The Woods is one of the most majestic manufactured housing communities in California located on the Mendocino coastline adjacent to Van Damme State Park. The 55+ community has 110 very large sites with abundant redwoods, trees, and landscaping. The site rents are $682-$956 plus submetered electric and $82/month sewer fee. All the residents are on five year leases with annual cpi increases. The septic sewer and well water are included in the rent and the propane gas is directly billed by a third party. There is no rent control in Mendocino County. The community contains beautiful resident homes and all are doublewide and almost all have 2 car garages. The homes sell for $100,000-$300,000. Amenities include a 5,700 sf clubhouse & office, indoor pool, spa, and exercise room. Sales includes a 3br/2ba manager manufactured home, extensive operating equipment and vehicles, and the 4,200 sf “Lodge” with a vacant 24 units assisted living complex with a central core of office, activity and dining rooms, salon, kitchen, and office. There is an almost application ready permit to redevelop the Lodge into 14-17 apartments at an estimated cost of $2.0M-$2.75M. One bedroom apartments rent for approx. $1,200 in Mendocino. Or the Lodge could be master leased and Cal-Fire has expressed a strong interest. The septic system had a $1M renovation in 2013. The most attractive Fannie Mae financing is anticipated at a 3.5% fixed interest rate for 10 years.