sutter pines mobile home park - loopnet...noi $100,720 cap rate 7.52% price per unit/pad $70,526...

STABLE & WELL-MAINTAINED MOBILE HOME PARK

PCG COMMERCIAL PCGCOMMERCIAL.COM

SACRAMENTO | CENTRAL VALLEY | BAY AREA

P R I V A T E C L I E N T G R O U P

Sutter Pines Mobile Home Park14906 HIGHWAY 88 EAST, JACKSON, CA 95642

$1,340,000 | 19 UNITS | 7 .52% CAP RATE

ADRIAN DEL RIODirect: 916.303.0133Bay Area: 415.933.7303CalDRE #[email protected]

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ADRIAN DEL RIODirect: 916.303.0133Bay Area: 415.933.7303CalDRE #01431059adelr [email protected]

S U T T E R P I N E S M O B I L E H O M E P A R K | 1 4 9 0 6 H I G H W A Y 8 8 E A S T , J A C K S O N , C A 9 5 6 4 2

CONFIDENTIALITY & DISCLAIMER

All materials and information received or derived from PCG Commercial its directors, officers, agents, advisors, affiliates and/or any thirdparty sources are provided without representation or warranty as to completeness , veracity, or accuracy, condition of the property,compliance or lack of compliance with applicable governmental requirements, developability or suitability, financial performance of theproperty, projected financial performance of the property for any party’s intended use or any and all other matters.

Neither PCG Commercial its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied,as to accuracy or completeness of the any materials or information provided, derived, or received. Materials and information from anysource, whether written or verbal, that may be furnished for review are not a substitute for a party’s active conduct of its own duediligence to determine these and other matters of significance to such party. PCG Commercial will not investigate or verify any suchmatters or conduct due diligence for a party unless otherwise agreed in writing.

EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE.

Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their owninspections and investigations including through appropriate third party independent professionals selected by such party. All financialdata should be verified by the party including by obtaining and reading applicable documents and reports and consulting appropriateindependent professionals. PCG Commercial makes no warranties and/or representations regarding the veracity, completeness, orrelevance of any financial data or assumptions. PCG Commercial does not serve as a financial advisor to any party regarding anyproposed transaction. All data and assumptions regarding financial performance, including that used for financial modeling purposes,may differ from actual data or performance. Any estimates of market rents and/or projected rents that may be provided to a party do notnecessarily mean that rents can be established at or increased to that level. Parties must evaluate any applicable contractual andgovernmental limitations as well as market conditions,vacancy factors and other issues in order to determine rents from or for theproperty.

Legal questions should be discussed by the party with an attorney. Tax questions should be discussed by the party with a certified publicaccountant or tax attorney. Title questions should be discussed by the party with a title officer or attorney. Questions regarding thecondition of the property and whether the property complies with applicable governmental requirements should be discussed by theparty with appropriate engineers, architects, contractors, other consultants and governmental agencies. All properties and services aremarketed by PCG Commercial in compliance with all applicable fair housing and equal opportunity laws.

PRESENTED BY:

ADRIAN DEL RIODirect: 916.303.0133Bay Area: 415.933.7303CalDRE #[email protected]


EXECUTIVE SUMMARY

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DEMOGRAPHICS 1 Mile 5 Miles 10 Miles

Total Households: 172 4,116 11,267

Total Population: 394 9,314 26,240

Average HH Income: $69,857 $63,858 $67,376

PROPERTY HIGHLIGHTS

• 100% leased with in-place RUBS income and scheduled rent increases

• Well located community less than 1 mile from Sutter Hospital tucked away

below Hwy 88

• Major employers nearby such as Sutter Hospital, Mule Creek State Prison,

casinos, wineries, and nationally anchored retail centers

• Significant Capital Improvements by the ownership

• Great mix between Park-Owned SFR,Duplex,Cottages and Pad Spaces

• High Average House Hold Income of $69K within a 1 mile radius

OFFERING SUMMARY

Sale Price: $1,340,000

Number Of Units: 19

Price Per Pad/Unit: $70,526

Park Price / SF: $7.04

Occupancy: 100.0%

Cap Rate: 7.52%

GRM: 9.51

NOI: $100,720

Lot Size: 4.37 Acres

Year Built: 1930

Park Size: 190,357 SF

Zoning: T2

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PROPERTY DESCRIPTION

*Opportunity to acquire a stable, well-maintained, Mobile HomePark*

Sutter Pines Mobile Home Park is nestled in the foothills ofJackson, CA near Sutter Medical Hospital, Mule Creek StatePrison, Jackson Rancheria Casino & Resort, newly constructedHarrah's Casino & Resort, and Wineries.

Sutter Pines is a 100% leased community situated on 4.37 acresand features 19 units which are comprised of (9) Cottage/SFRdwelling units owned by Sutter Pines and (10) Mobile Home/RVPad spaces. The ownership has made significant capitalimprovements. The water treatment system has been replacedwithin the past two years, a duplex has been newly built, and newelectrical meters have been added so that tenants are fullyresponsible for utility payment. As well, the park has seen upgradesto landscaping, signage, paving, and storage.

Sutter Pines is separately metered for electrical,propane gas isprovided by a 3rd party paid by the tenants through metered-use,RV and Mobile Home spaces all have utility hook-ups. Water, watertreatment, and sewer/septic is paid for by the owner, with RUBSbill back to tenants.

The Park is ideal for an investor seeking a low-maintenanceproperty, with solid cash-flow, and great mix of dwelling units tocompliment the pad spaces.

LOCATION DESCRIPTION

Sutter Pines is located less than 1 mile from the Sutter RegionalHospital and in close proximity to major retail centers featuringWalmart, Safeway, Petco, Lowe's, Starbucks, Autozone, Jack NThe Box, Rountable Pizza, Carls, Jr., Jamba Juice, Les Schwab,America's Tire's Discount and more.

The major employers in the Jackson region are Sutter Hospital,Mule Creek State Prison, Jackson Rancheria Casino & Resort,Harrah's Casino & Resort, plus wineries, and vineyards.

The property is easily accessible from Highway 88.


PROPERTY DESCRIPTION

LOCATION INFORMATION

Park Name Sutter Pines MHP

Street Address 14906 Highway 88 East

City, State, Zip Jackson, CA 95642

County Amador

Signal Intersection No

OFFERING PRICE $1,340,000

NOI $100,720

Cap Rate 7.52%

Price Per Unit/Pad $70,526

Occupancy % 100.0%

GRM 9.51

Year Built 1930

Year Last Renovated 2019

PROPERTY HIGHLIGHTS

• 100% leased plus additional RUBS reimbursement income

• Scheduled rent increase of $30 for 14 units effective 8/1/19

• Well located community less than 1 mile from Sutter Hospitaltucked below Hwy 88

• Major employers nearby such as Sutter Hospital, Mule CreekState Prison, casinos, wineries, and nationally anchored retailcenters

• Capital Improvements to the water treatment system, newelectrical meters, paving, along with a newly built Duplex.

• Great mix between SFR, Duplex, Cottages and Mobile Home/RV pad spaces.

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S U T T E R P I N E S M H P

COMPLETE HIGHLIGHTS

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UNITNUMBER

UNITBED

UNITBATH

LEASESTART

LEASEEND

CURRENTRENT WITH RUBS

NEW RENTON

8/1/19SECURITYDEPOSIT

1 - Park 1 1 12/01/2015 MTM $602 $632 $0

2- Park 1 1 7/20/2018 MTM $927 $957 $1,312

3-Park 1 1 12/01/2015 MTM $677 $707 $560

4-Park 0 1 6/8/2018 MTM $802 $832 $1,125

6-Park 0 1 3/3/2018 MTM $802 $832 $750

7 - Park 3 2 3/28/2018 MTM $1,227 $1,257 $1,762

8A-Park 1 1 4/7/2019 4/7/2020 $952 $952 $900

8B-Park 2 1 4/1/2019 3/30/2020 $1,252 $1,252 $1,000

9-Space 9/3/2015 MTM $472 $502 $0

10-Space 12/1/2015 MTM $472 $472

11-Space 10/8/2015 MTM $472 $502 $350

12-RV 10/8/2015 MTM $472 $502 $350

13-RV 12/1/2015 MTM $502 $532 $450

14-RV 12/1/2015 MTM $472 $502

15-RV 12/1/2015 MTM $472 $472

16-RV 12/1/2015 MTM $472 $502

17-Park 1 1 6/7/2019 6/8/2020 $795 $795 $795

18-RV 12/1/2015 MTM $472 $502

19--RV 12/1/2015 MTM $420 $450

Totals/Averages $12,734 $13,154 $9,349

*14 units have been given notice of a $30 scheduled rent increase effective 8/1/19*


RENT ROLL

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INCOME SUMMARY INCOME & EXPENSE PER UNIT

Gross Rental Income $140,952 $7,418

Scheduled Rent Increase $30 x 14 units on 8/1/19 $5,040 $265

RUBS Income @ $52 Flat Rate per unit/space $11,856 $624

Vacancy Allowance (-3%) -$4,735 -$249

GROSS INCOME $153,113 $8,058

EXPENSE SUMMARY INCOME & EXPENSE PER UNIT

New Property Tax Basis (1.25% x $1,250,000) $16,750 $881

Insurance $4,002 $210

Maintenance and Repairs $3,828 $201

Utilities - Electrical $1,087 $57

Legal/Accounting $1,250 $65

Telecommunications $444 $23

Water Treatment Septic Services $16,200 $852

Property Management $8,832 $464

GROSS EXPENSES $52,393 $2,757

NET OPERATING INCOME $100,720 $5,301


INCOME & EXPENSES

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RETAILER MAP

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AERIAL

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LOCATION MAPS

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POPULATION 1 MILE 5 MILES 10 MILES

Total population 394 9,314 26,240

Median age 49.0 50.6 49.1

Median age (Male) 48.6 49.5 48.0

Median age (Female) 48.9 50.9 49.7

HOUSEHOLDS & INCOME 1 MILE 5 MILES 10 MILES

Total households 172 4,116 11,267

# of persons per HH 2.3 2.3 2.3

Average HH income $69,857 $63,858 $67,376

Average house value $377,331 $381,640 $371,235

* Demographic data derived from 2010 US Census


DEMOGRAPHICS MAP & REPORT

sutter pines mobile home park - loopnet...noi $100,720 cap rate 7.52% price per unit/pad $70,526...

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