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Listed by Tim Ryan • Avine Real Estate
$ 5,825,000
Est. payment /mo
Price Dropped by $175K
5250 Whispering Creek DR Santa Rosa, CA 95403
7 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CROC25177699
Year Built 1969
Lot Size 7 Sqft
Source California Regional MLS
Property Description
Stonegate Mobile Home Park is a 70-site, all-age manufactured housing community located in Santa Rosa, CA, the heart of Northern California's wine country. Stabilized at 99% occupancy, this 4.0-star community is permitted by HCD for 70 sites consisting of 68 mobile home sites and 2 RV sites. Buyers have the option to assume the existing agency loan. There are 65 tenant-owned mobile homes, 2 stick-built single-family residences, 1 tenant-owned park model, and 2 park-owned mobile homes (1 vacant and 1 serving as the onsite manager's unit). The 2 park-owned mobile homes are included in the sale, representing a value of approximately $250,000. The average mobile home rent of $590 is approximately 32% below market, offering upside subject to local rent control ordinance guidelines. The community has a large clubhouse with a full kitchen, in addition to a spacious laundry room. The property is in the process of converting from private well and septic systems to municipal water and sewer, creating future opportunities to pass utility costs through to residents. Additionally, Stonegate MHP is enrolled in PG&E's utility conversion program to individually meter gas and the remaining seven electric sub-meters to direct bill, which is expected to further reduce operational expenses. Buyer
Location
State CA
County Sonoma
Interior
Laundry Laundry Area, Community Facility
Exterior
Pool None
Building
Water Well
Others
Tax ID 059230060000
Special Listing Condition Not Applicable
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