Casa del Rio Mobile Estates

Property Description:

Beautiful 5 star, 55+ manufactured housing community in the central California coast City of Santa Maria. The mhc is a subdivision and the owner owns 236 of the 250 homesites. All multi-section homes and site rents are $878-$1,016 and the sewer, water, and trash are included in the rent. No rent control and all but one of the residents are on long term leases through Dec 31, 2029 at annual 100% of cpi rent increases plus pass thrus for the increases in government costs including property taxes, sewer, water, and trash charges in excess of the current year cpi, and 100% of all asphalt costs. One vacant site. 155 of the sites were built in 1973 with submetered gas and 100-200 amps electric and 95 sites were built in 1980 with direct bill gas and electric and garage homes. Phase 1 lot sizes are 50 X 75-80 and Phase 2 are 55-60 X 80. 9,896 square feet clubhouse building with rec hall, office, two kitchens, card room, billiards room, craft room, mini lounge, exercise room, laundry, and bathrooms. Additional amenities are a pool, spa, saunas, and RV storage. HOA fund balance of approximately $1.2M transferred to buyer at the close of escrow. Sales includes manager manufactured home and two park trucks. The average home price in the community is $170,000. The adjacent single family homes sell for $600,000 – $800,000.