12688 California Street

Description

We are pleased to exclusively present the opportunity to acquire Melody Lane and Mountain View Mobile Home Parks, located at 12688 & 12726 California Street in the city of Yucaipa. Built in 1955 & 1971, the mobile home parks sit on four separate contiguous parcels with a total of 7.64 acres of land in a quiet suburban neighborhood, less than two miles from Downtown Yucaipa. Melody Lane Mobile Home Park is an all-age community that features 32 sites, one two-bedroom house and two parcels for multiple future development on a total of 3.25 acres of land. This mobile home park has a site density of 10.15. The house is single story, has a pitched roof, fireplace, double-car garage with private driveway, and a yard. Tenants also enjoy on-site laundry and a clubhouse. Gas and Electricity are directly-billed and all other utilities are sub-metered. The property is subject to the city of Yucaipa's Rent Stabilization Ordinance. The next possible rent increase is January 2023. Mountain View Mobile Home Park is an all-age community that consists of 77 sites. With a site density of 10.72, this mobile home park features an on-site laundry room, community swimming pool and a clubhouse with a kitchen, which is currently the manager's office. The park has recently been repaved in April 2022. This park is approved for Utility Conversion Program. Gas and electricity are in process of direct metered, and all other utilities are sub-metered. The property is subject to the city of Yucaipa's Rent Stabilization Ordinance. The next possible rent increase is January 2023. The mobile home parks are i We are pleased to exclusively present the opportunity to acquire Melody Lane and Mountain View Mobile Home Parks, located at 12688 & 12726 California Street in the city of Yucaipa. Built in 1955 & 1971, the mobile home parks sit on four separate contiguous parcels with a total of 7.64 acres of land in a quiet suburban neighborhood, less than two miles from Downtown Yucaipa. Melody Lane Mobile Home Park is an all-age community that features 32 sites, one two-bedroom house and two parcels for multiple future development on a total of 3.25 acres of land. This mobile home park has a site density of 10.15. The house is single story, has a pitched roof, fireplace, double-car garage with private driveway, and a yard. Tenants also enjoy on-site laundry and a clubhouse. Gas and Electricity are directly-billed and all other utilities are sub-metered. The property is subject to the city of Yucaipa's Rent Stabilization Ordinance. The next possible rent increase is January 2023. Mountain View Mobile Home Park is an all-age community that consists of 77 sites. With a site density of 10.72, this mobile home park features an on-site laundry room, community swimming pool and a clubhouse with a kitchen, which is currently the manager's office. The park has recently been repaved in April 2022. This park is approved for Utility Conversion Program. Gas and electricity are in process of direct metered, and all other utilities are sub-metered. The property is subject to the city of Yucaipa's Rent Stabilization Ordinance. The next possible rent increase is January 2023. The mobile home parks are ideally located in a mature, well-established community nestled in the foothills of the San Bernardino Mountains. Major Department and groceries stores such as Stater Brothers Markets, Walgreens, Big 5 Sporting Goods, and the UPS Store are only a mile and a half away from the property. In addition, the city of Yucaipa is surrounded by multiple outdoor and indoor recreational opportunities for all ages including Yucaipa Regional Park, Yucaipa Valley Gold Club, Wildwood Canyon State Park and Bryant Glen Sports Complex. Residents can also enjoy varies orchards and farms at the Oak Glen Preserve that is less than fifteen minutes away. The Yucaipa planning commission recently approved several new development projects such as Yucaipa Pointe, a 24-acre mixed-use commercial plaza with future restaurants, retail stores, car wash, and possible medical center.