Crestview Mobile Home Park

Property Description:

Very well maintained and managed 58 sites, 55+ senior manufactured housing community in the South Bay Los Angeles City of Lomita. Lomita is a nice infill community with the average home price almost $1.0M. Crestview is located in an attractive single family neighborhood with a mix of older mobile homes and new and newer manufactured homes. Mostly singlewides with some doublewides and many of the new manufactured homes are beautiful 14 feet wides with 9 feet ceilings and attractively installed with front landscaping plantars and new concrete parking. Sites rents are low at mostly $650 with turnover in 2022 at $750. There is no rent control in the City of Lomita. Electric is submetered and Trash is $10.85. The gas, sewer, and water utilities are included in the rent and should be passed thru. The park recently obtained permits to add gas meters and they have been ordered and will be installed. The park is on an original 30 amp electrical system and the gas and electric should be converted to the utility companies. The park applied but was denied because of the technicality that they were not submetering for gas. The park is managed by a local park owner and very successful manufactured home retailer, BMH Homes, that has installed all of the beautiful new homes in the park. BMH is willing to continue to manage the park and install new homes for the buyer.