Harbison Canyon Estates
Price: $3,400,000
1631 Harbison Canyon, El Cajon, CA
- 68 Mobile Home and RV Sites, Plus Three Apartments
- $3,400,000 Sales Price
- No Rent Control
- Seller Will Carry a 1st Trust Deed at 3% Interest Only for Two Years with $1,400,000 down
- Tennis Court, Pool, Spa, Clubhouse
- All New Electric and Gas Lines. New City Water Connection
Harbison Canyon Estates was a victim of the Cedar Fire in 2005. The Park has new gas, electrical, and city water connection as well as 30 new double wide and 3 triple wide homes. There are 15 spaces that have yet to be built. Of the 33 RV sites only ten are occupied and the park does not allow overnighters. This occupancy rate should be closer to 75% and as high as 90%. Currently all three apartments have tenants, one of which is occupied by the park manager. Harbison Canyon has many amenities with a clubhouse, tennis court, pool, spa and grassy area and includes a seperate modern office near the entrance. The park is ideally located in El Cajon in the Dehesa/Sycuan area. It is 10 minutes to major retail and 35 minutes to downtown San Diego. Harbison Canyon Estates has no rent control, several homes are for sale - allowing for immediate rent upside - high quality, almost 20 acres, and only minutes from downtown San Diego - Harbison Canyon Estates delivers cash flow with legitimate upside. The park is owned by a private lender who is managing the park. There is no offsite management company and the current owner has little Mobile Home Park experience. With excellent financing, Harbison Canyon delivers an estimated 10% cash on cash return in year one.
