Investment Overview

Kozy Manufactured Housing Community is a 38-space park located in downtown Beaumont at 525 Palm Avenue. The park is licensed by HCD for 37 MH and currently consists of 13 mobile homes, 24 RV's, and 1 apartment rental. There are 2 vacant sites. The park is on city utilities and submeters water, electric, and gas. Sewer and garbage are billed at a flat rate. The seller has recently completed major upgrades to the park in the past two years that include: repaving for the entire park, painted and rehabbed the apartment, laundry room, office, and storage building, rehabbed park owned units and sold them off, tree trimming and removal, and a new park sign. Kozy is an all age community located on approximately 1.71 acres. The apartment building and on-site managers unit are the only units owned by the park and is included in the sale. The rents are increased on anniversary dates. The rent control is 100% of CPI with a floor of 3% and a ceiling of 7%. On turnover, rents can be raised to the average of the highest 3 space rents. There is an interest only loan on the property for $2,100,000 that the buyer must assume. Known as the Inland Empire, the Riverside-San Bernardino metro is a 28,000-squaremile region in Southern California, composed of San Bernardino and Riverside counties. The metro contains a population of 4.6 million. The largest city is Riverside, with roughly 315,000 residents, followed by San Bernardino and Fontana, with more than 200,000 people each. Valleys in the southwestern portion of the region that are adjacent to Los Angeles, Orange County and San Diego County are the most populous in the metro. These areas abut the San Bernardino and San Jacinto mountains, behind which lies the high-desert area of Victorville/Barstow to the north, and the low-desert Coachella Valley — home of Palm Springs — to the east.