Looking to sell two mobile home parks in CA - one 96 unit park in Olidale (Bakersfield) and one 17 unit in Vallejo.
Vallejo property at 100% occupancy expected to make $50-60K NOI this year, with scope to further increase rents.
Oildale property requiring further investment to complete turnaround. We purchased the park at 30% occupancy and built it up 65% occupancy. Has been achieving positive NOI despite heavy capital investments.
Any advice regarding how to go about selling these parks?
I’m a broker in CA, I specialize in MHP’s and I’ve got a huge list of buyers. I’d be willing to put together a pricing analysis for each park and market for you; with this strategy you will have multiple offers. There is a lot of syndicate money in the space right now and they’re hounding me for deals like yours. Give me a call or shoot me an email!
I’m interested primarily in the turnaround opportunity, about a two hour drive from where I live. Would you please email details to gdl@hanovermc.com. Thank you. David