$1,215,000
$1,311,200
7.3%For more information regarding the value of a property, please contact us for a free consultation.
2.42 Acres Lot
SOLD DATE : 10/04/2019
Key Details
Sold Price $1,215,000
Property Type Multi-Family
Sub Type Multi Family
Listing Status Sold
Purchase Type For Sale
MLS Listing ID NP19205131
Sold Date 10/04/19
HOA Y/N No
Year Built 1941
Tax Year 2019
Lot Size 2.420 Acres
Lot Dimensions Assessor
Property Description
Sierra Sands Mobile Home Community (SSMHC) is an All Age park consisting of 38 mobile home sites and one 3-bedroom Single Family Residence. Additionally an office, laundry room and storage space all combined in 1 building. This is a value add property with low market rents, no rent controls and the opportunity to fill lots - maximizing cash flow and value. Park produces solid cash flow and is primed to grow with good management, filling lots and lot rent increases. The foremost priority will be purchasing used mobile homes in Ridgecrest and surrounding Bakersfield metro area to relocate to SSMHC. SSMHC residents choose to live at SSMHC to be a part of a safe, clean and affordable all age housing community located in Ridgecrest, California with in Kern County & the Bakersfield MSA. The park has a stable tenant base with good collections and compliance of community standards. Park roads were newly paved as of June 2019, upgraded gas and electric meters recently installed in 2018/2019 and water and sewer lines upgraded giving the park the lowest water billing to record. City Water & Sewer. All utilities are billed back. Rent increase effective 12/1/19.
Location
State CA
County Kern
Area Rcr - Ridgecrest
Interior
Fireplace No
Laundry Common Area
Exterior
Fence Block
Utilities Available Electricity Connected, Sewer Available, Sewer Connected, Water Connected
Building
Lot Description 16-20 Units/Acre, Lot Over 40000 Sqft, Level
Water Public
Others
Tax ID 41802004003
Security Features Resident Manager
Acceptable Financing Cash, Cash to New Loan, 1031 Exchange, Submit
Listing Terms Cash, Cash to New Loan, 1031 Exchange, Submit
Financing Cash
Special Listing Condition Standard
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Bought with Martha Fernandez • TRG Mortgage