Palm Villa Mobile Home Park

Property Description:

Located in Riverside County in the San Jacinto Valley, Palm Villa Mobile Home Park is a 106 space allages family community with tremendous upside. The park is within 2 hours of Los Angeles, Orange County and San Diego and has easy access to golf courses, retail spaces, medical offices and the local schools. The space rents at the park are well below market, averaging $350 per month. The city of Hemet has no local rent control. There are 48 tenants in the park that own their units and exclusively pay space rent, while there are 36 tenants occupying park owned homes. Of the 23 vacancies only 2 of the spaces do not have a unit on the space, there is solid infill upside at the property. The park amenities include a community pool and clubhouse, with wide-paved roads that are in good condition. Each space has designated driveways. The park is on city water and city sewer that is passed through to the tenants. Electric and Gas are master-metered and also passed through to the tenants. With a professional operator, Palm Villa’s upside potential can be easily reached with addition of stricter rules and collections enforcement, while also filling vacant spaces and increasing rents to market averages. The price point for a Southern California 107 space park is going to be hard to pass up!
PLEASE DO NOT DISTURB TENANTS OR MANAGEMENT IF VISITING PARK. THEY ARE NOT AWARE PARK IS FOR SALE. PLEASE KEEP THIS LISTING CONFIDENTIAL.