Golden State Mobile Lodge

Property Description:

Park Brokerage and Commercial Real Estate is pleased to present a fantastic investment opportunity: Golden State Mobile Lodge, a 54-unit all-ages manufactured home community in an infill Los Angeles location, just minutes from the beach. This property is a coupon clipper for investors seeking access to affordable housing assets in Southern California. Golden State Mobile Lodge features 31 tenant-owned double-wide homes and desirable common area amenities like a clubhouse, laundry room, and pool. The community currently has 3 vacancies, including two brand-new and recently delivered, park-owned single-wides for sale at $169,000 with a projected monthly lot rent of $1,950, and 1 vacant space. The community operates under Los Angeles County rent control, which allows for 75% of the Consumer Price Index (CPI) for annual increases and 10% vacancy control. Gas and electricity are currently master-metered, but the community has been approved for the California Public Utilities Commission (CPUC) Mobilehome Park Utility Conversion Program. This program allows mobile home park owners to replace existing electric and gas distribution systems with new, professionally installed systems. These new systems will be owned and maintained by the utility, leading to direct billing for residents.

There’s significant pride of ownership among residents, with many having lived in the park for decades due to the affordable living it provides in a market where home values exceed $1 million. Torrance boasts a strong, diverse economy with major employers in automotive, tech, and healthcare, ensuring a stable tenant pool and continued demand. Its top-rated schools, safe neighborhoods, and proximity to beaches further enhance rental appeal and long-term value appreciation.

Upside for the community involves lowering management and maintenance costs through the direct billing of utilities by PG&E and SoCal Gas, as well as filling the three vacant units.