Off Market 41 Space Park | 6.5% IO Seller Financing | 1 hr east of Redding, CA

[Ashley O.]

• 
  41 spaces (12 TOH LTRV, 28 TOH MH, 1 cabin)
• City water. Well for irrigation.
• Septic – County has project to connect park to city sewer at no charge to the park (includes private side connections too)
• Enrolled in PG&E utility upgrade program; construction about to start upgrading all lines and direct meters in park to 100A at no charge to owner.
• No local rent control
• Average rent $340 | Market is $500+ conservatively. RV park just up the street is filling LTRV spaces at $650 in winter and $800 in summer.
• Same owner since 1974. Selling because he is tired.
• Site manager been with park since 1980. Receives free site rent and utilities as compensation.
• Single family home on separate tax lot needs to be purchased with the deal for 100k (could be sold off immediately, sold for modest profit after repairs, or rented, or held for manager's quarters)
• Have verified bank statement income/expense. Have current rent roll and P&L.
• Currently there are 5 vacancies. Perfect for LTRV or Tiny Homes.
• Seller does zero marketing.
• You could structure this as a land sale contract so taxes would not be reassessed until you refi, if that's interesting
• I've verified that GL and Hazard insurance is attainable for 7-7.5k on the private market (not CA Fair Plan)
• Seller financing at 6.5% IO with 200k down with 7 year term. 25k down on the house with same rate and terms.
• All in price $1,325,000 ($1,225,000 for park + $100,000 for house)
• We have it tied up and would be looking for a 5% buyer paid fee (it’s not a listing). Looking for an experienced MHP buyer with a track record, or a first time MHP buyer with verifiable track record and funds.

Message me directly.

Thank you.