Rough & Ready Mobile Village

Property Description:

Rough & Ready Mobile Village is a 59-site mobile home park site located in Rough and Ready, California. Located directly across the street from the new Fire Station, adjacent to the Post Office and surrounded by Gold Rush Era mining relics. At Rough and Ready Village, you will feel like a world away, yet conveniently located close to shopping, restaurants in Grass Valley, and just an hour from Sacramento MSA. This park features a mix of permanent RV’s and mobile units on a scenic hill overlooking the natural forest away from the heat of the valley just an hour away.

Rents are very low for the market, rents were increased effective June 1, 2021 and yet are still at least 10% below market and there is no local rent control ordinance. The park is on a private well and treatment lagoon both of which are serviced monthly by a licensed contractor who can verify both are in good working order. Gas is partially submetered via several propane tanks, the rest of the park is only 50amp master-metered electric. There is a vacant convenience store located on the property along with the apartment units.

Broker recommends following operational tweaks to current business model to increase NOI: annual rent increases to existing tenants to bring up to market rents and move-in new tenants at market, converting store to a clubhouse or leasing to an operator, and analysis of a return on investment by adding solar to reduce electric costs.

Highlights

• 59 Site Mobile Home and RV Park
• Well/Lagoon, Paved Roads, Large Sites
• 6.1% Cap Rate with Low Rents
• Over 50% of unit mix is MH/apartments
• approximately 8.5 acres
• 6.6% Cash on Cash year 1
• Just an hour from Sacramento