Seven Palms MHP

Property Description:

Very well maintained and managed all ages community in the northern California wine community of Cloverdale, thirty minutes north of Santa Rosa. 42 manufactured home sites currently occupied by eight doublewide homes and the balance singlewide homes. Site rents are $490-$585 plus submetered electric. The gas is directly billed and the sewer, water, and trash utilities are included in the rent. The City of Cloverdale has a rent control ordinance but every resident is on a ten year lease exempt from rent control with fixed rent increases each year (see following rent increase schedules). Currently one vacancy with two park owned homes for sale. No rental mobile homes or mh notes included in the sale. Sale also includes a very nice 2 bedroom/1 bath house of approximately 1,600 square feet with a three car garage rented for $1,500 per month and a studio cottage rented for $550 per month. 50 amp electrical service with the main panel (replaced or renovated?) eight years ago, city sewer and water services, new asphalt overlay in 2009, and part of the sewer lines were replaced or lined in 2006 and 2014.

A family member has the adjacent vacant land to the west of the park of approximately 20,000 square feet for sale for $250,000.

Seller will do a 1031 exchange into another property. The sale is not contingent upon finding an acceptable exchange property but the Seller may require a nine months escrow. In the event the Seller finds her replacement property sooner than the nine months escrow period, Seller may give Buyer a 30 days notice for Buyer to close earlier. The 30 days notice cannot be given until Buyer’s contingency period has ended.