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LewisJohnson
BIP Realtors Inc

1764 Davis Streert
Fremonet 94087
California




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Home
> For Sale > Other Type
Listing ID: 217

Rancho Mirage Mobile Home Park, Great potential!

$7495000 For Sale
We can finance it!
Property Description

  • Primary Type:Multifamily
  • Mobile Home/RV Community
  • No. Spaces: 72
  • Building Size: N/A
  • Lot Size: 3.34 Acres
  • Occupancy: 89.00%
  • Price: 7,495,000
  • Price/Space: 104,097.22

  • Property Description:


  • Trophy Potential! - Rancho Mirage California.(greater Palm Springs area)
  • Great re-development opportunity, or keep and continue to collect rents.
  • Over 680' of frontage on Highway 111 at traffic signal (Peterson Road) (
  • Over 400' Frontage on Peterson)


  • Location Description:


  • Please DO NOT disturb management or tentants.
  • Additional Types: Day Care Facility/Nursery
  • Special Purpose (Other)
  • Great upside potential
  • Trophy Potential - Re-development
  • ?Cash Flow while you get plans approved
  • ?Approximately $42,000/month GSR
  • ?Signalized Intersection
  • ?Prime Rancho Mirage Location
  • Financial Summary Proforma
  • Year:2006
  • Scheduled Gross Income: $481,750
  • Vacancy: $24,100
  • Reimbursement: $54,000
  • Effective Gross Income: $511,650
  • Maintenance: $6,000
  • Taxes (est): $90,000
  • Insurance & Permits: $10,000
  • Utilities: $75,000
  • Total Expenses: $181,000
  • Net Operating Income: $330,650
  • Debt Service: $212,034
  • Pre-Tax Cash Flow: $118,616
  • Expenses/Unit: $2,514.00

  • Space Mix Information


    Park Owned Units (Actual Rents Only)(40)


    No. Spaces: 40 Avg. Mo. Rent: $708 Non-Park Owned (Actual Rents Only)(11) No. Spaces: 11 Avg. Mo. Rent: $252 RV Spaces (Actual Rents Only)(21) No. Spaces: 21 Avg. Mo. Rent: $433 Debt & Equity Information Debt Type: Proposed Interest Rate: 7.00% Amortized Over: 25 Due In: 10 Annual Debt Service: $212,034 Down Payment: $4,995,000

    HERE'S THE SCOOP!

    More and more people are jumping in to the real estate investment arena looking to invest as a way to build wealth over time or to shelter income. And of course the best place to invest is in an area you know well and where it is easiest to travel. In my several years in real estate lending, I have read just as many profit and loss and balance statements of investors. Four key points comes to mind in each case. 1. Most of them are or have purchased properties out of their immediate area to get the value and return they seek. 2. They have also diversified their investments buying properties of different uses. 3. They've purchased enough property in the area over time so they benefit from professional management and, 4.They've invested in areas where they don't mind taking business trips/ vacations to do onsite inspection. Cool isn't it?

    What we do:

    Real Estate Transactions & Financing
    Conventional & Hard Money Financing to $10,000,000

    We regularly identify investment properties that have potential for cashflow , appreciation, and/or tax benefits. While we are not always the listing agent for the properties we research, Our goal is assisting you from start to finish and beyond with all details of the real estate transaction. Transaction, Financing Services. We make the process seamless and easy as possible so that you concentrate on the bottom line. We can also refer you to any resources need to help to manage your investment.




  • Contact Information

    Contact person: Michael Warren
    Seller type: Agent/Broker
    Owner Finance:
    MLS:
    Phone: Log in to view
    Address: Log in to view
    City: Rancho Mirage
    State/Province:
    Zip/Postal Code: 92270
    Country:


    Listing Information

    Type: Mobile Home
    Listing Status: For Sale
    Price: 7495000
    Bedrooms:
    Bathrooms:
    Stories:
    Square Feet:
    Lot Size:
    Age of Home:

    Additional Feature:

    Appliances:
    Benefits:



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