Park Brokerage is proud to announce the sales of the A&A Mobile Home Park in Porterville, California and Mountain View RV Park located in Huachuca City, Arizona. The community in Porterville sold on March 22, 2019 and Mountain View sold on March 21, 2019. John Sheedy represented the sellers in each transaction while procuring the California-based experienced buyers.
A&A Mobile Home Park sold for $2,050,000 ($34,200 per space) is a 60-site mobile home community located in the agricultural town of Porterville in Tulare County, California. The park consists of mostly mobile home tenancy with a handful of recreational vehicles on the property. All but two homes were tenant-owned. The park had been recently upgraded to direct-billed electric and gas via the PG&E Pilot Program and was serviced by septic tanks and a private well. The roads are paved and common area amenities consisted of a laundry room and small, unused clubhouse. The property was in average condition at the time of sale.
Mountain View RV Park sold for $850,000 ($10,500 per space) and is an 81-space quality snowbird RV park located in between Benson and Sierra Vista near countless tourist destinations. Mountain View is located on a 15-acre parcel and has high demand year-around from snowbirds in the winter and an increased summer occupancy due to the temperate climate and nearby tourist attractions. The roads are paved with curbs and common area amenities include a clubhouse, two laundry rooms, and a large dog run. Broker believes adding an additional amenity such as a pickleball court or a pool will lead to both increased rents and occupancy. The property is serviced by a well and septic tanks and was in excellent condition at the time of sale.
John Sheedy commented "A&A is a high cash flow deal with below-market rents that needs a quick cleanup to really increase value and provide the buyer a stable asset in an area where they have several other properties."
"With regards to Mountain View, I believe adding an amenity or two would really drive more traffic to this clean park and allow for expansion. The new developments planned for the area will also increase traffic."
Please feel free to contact John for more information about this sale at 602-821-4666 or at jsheedy@parkbrokerage.com