1679 Oro Dam Blvd W Oroville, CA 95965
3.45 Acres Lot
UPDATED:
Key Details
Property Type Manufactured Home
Sub Type Manufactured On Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID OC26210996
HOA Y/N No
Year Built 1984
Annual Tax Amount $6,400
Tax Year 2025
Lot Size 3.450 Acres
Property Sub-Type Manufactured On Land
Property Description
The combined portfolio is priced at $1,700,000 and is 88% occupied with 4 vacant sites including one vacant park owned home and two vacant mobile homes that were abandoned by the prior owner and are in process of having title transferred to seller. With current NOI of $127,399, the pricing equates to a 7.49% going-in cap rate. The majority of current resident rents fall between $350 - $450 per month, however there have been some new sites in-filled at premium rates. Portfolio average site rents are $445, which equates to a 32% discount to the comparable communities nearby. There is a clear path to increased income at Rambling Rose MP and Knotty Estates through in-filling the remaining vacant sites and measured increases to in-place rents to approach market rates.
Rambling Rose MP is 16-site manufactured home community with 14 MH sites and 2 detached single family residences. The single family residences are in good condition and leased long term for $1,400 per month. There are two vacant mobile homes that were abandoned by the prior owner and are currently in the process of being renovated and having title transferred to the seller.
Knotty Estates is a 17-site RV & manufactured home and community with 2 MH sites, 13 RV sites, 1 detached single family residence, and a commercial building that is leased to a bar. There is one vacant park owned mobile home which may be renovated and then sold or leased to a new resident, or removed and replaced with a new home. There is also one vacant RV site ready for a resident.
Both properties are served by city water and city sewer, which are paid by the landlord and included with the rent. Trash is collected in commercial bins, service is provided by recology and paid for by the landlord. Electric is provided by PG&E, submetered, and billed back to the residents based on usage. Knotty Estates operates without gas, excluding the resident in Site #15 that obtains their own propane. Rambling Rose receives gas service from PG&E, which is submetered and billed back to the residents.
Please do not visit, drive through, call, or disturb the property or its residents without prior approval from the listing broker.
Location
State CA
County Butte
Interior
Fireplace No
Laundry None
Exterior
Pool None
Community Features Suburban
Utilities Available Electricity Connected, Sewer Connected, Water Connected
Private Pool No
Building
Lot Description 6-10 Units/Acre
Story 1
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 030183003000
Security Features Resident Manager
Acceptable Financing Cash, Cash to New Loan, Conventional
Listing Terms Cash, Cash to New Loan, Conventional
Special Listing Condition Standard
