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Mobile Home Park

El Alamo MHP

10075 S Union Ave, Bakersfield, CA 93307

Listing Price: $855,000

Cap Rate
7.29%
Number of Spaces
27
Occupancy
68.6%
Price/Space
$31,667
Year Built
1950

Investment Overview

Marcus & Millichap is pleased to offer the opportunity to acquire a 27-space mobile home and RV park in Bakersfield, California. Located at 10075 S Union Avenue, there are two one-bedroom apartments and 25 lots zoned for mobile homes per HCD. Currently, the owner operates the park as 23 long-term RV spaces, and two mobile homes.

Located off CA-99, El Alamo is a 20-minute drive from I-5 and is just four miles away from Walmart Supercenter.

The community is currently on city water and has two large septic tanks for the 25 mobile home lots and individual smaller tanks for the two apartments. The current lot rents for the park are $325, which is below market for the area. New lots are being rented out at $350 with the opportunity to bring all tenants to $350 though a rent increase in 2021.

Three tenants have moved out since October 2020, and two spaces have been filled at $350. The third space will be rented pending removal of the old single-wide unit, and there is already a waitlist. There are two tenants who are expected to leave by the end of 2021.

Investment Highlights

  • All lots direct-billed for electric
  • Bellow-market rents
  • Opportunity to Bill Back Water/Sewer/Trash

Exclusively Listed By

Listing Price: $855,000

Cap Rate
7.29%
Number of Spaces
27
Occupancy
68.6%
Price/Space
$31,667
Year Built
1950

Investment Highlights

  • All lots direct-billed for electric
  • Bellow-market rents
  • Opportunity to Bill Back Water/Sewer/Trash

Investment Overview

Marcus & Millichap is pleased to offer the opportunity to acquire a 27-space mobile home and RV park in Bakersfield, California. Located at 10075 S Union Avenue, there are two one-bedroom apartments and 25 lots zoned for mobile homes per HCD. Currently, the owner operates the park as 23 long-term RV spaces, and two mobile homes.

Located off CA-99, El Alamo is a 20-minute drive from I-5 and is just four miles away from Walmart Supercenter.

The community is currently on city water and has two large septic tanks for the 25 mobile home lots and individual smaller tanks for the two apartments. The current lot rents for the park are $325, which is below market for the area. New lots are being rented out at $350 with the opportunity to bring all tenants to $350 though a rent increase in 2021.

Three tenants have moved out since October 2020, and two spaces have been filled at $350. The third space will be rented pending removal of the old single-wide unit, and there is already a waitlist. There are two tenants who are expected to leave by the end of 2021.

Exclusively Listed By

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