Alisal Country Estates

Property Description:

Brand new to the market is a well-located all-ages mobile home park located in the highdemand housing market of Salinas, California. This property is on city services with metered utilities and family seller who has owned the property for 25 years. Rent increase scheduled for February 2024 which will allow new owner benefit of said increase shortly after acquisition. The community fits all the boxes for agency financing: driveways, paved roads, curbs, all tenant-owned homes, majority doublewide sites, and an excellent amenity package.

The community currently has 82 MH sites and 12 storage sites and is approved for those numbers by HCD. All the homes are owned by the tenants and the community features over 75% doublewide homes. The park was built in the 1970’s and has been upgraded a few times over its history. The upside for new owners is mostly operational as current owners have not physically been to the property in over a decade. There are also a dozen tenants on legacy rents that can be turned over to market upon vacating.

The economy of Salinas in Monterey County is primarily based on agriculture, government, and tourism. The city is known as the “Salad Bowl of the World” due to its importance in the production of lettuce, broccoli, strawberries, and other fruits and vegetables. The population of Salinas is about 155,000 people and the median age is 31 years old with a household income is $75,747. Other than agriculture, tourism due to proximity to Monterey, Big Sur, and Carmel is also an economic driver. Salinas is just an hour south of Silicon Valley and San Jose Airport.

Offers are to be due on September 25, 2023 at 9am local time