$998,000 $5,357 est/mo Sourced by Back At You

5471 S Libby Road,Paradise, CA 95969

Paradise CA, 95969

Share with a friend

Description

MOTIVATED SELLER. Prime Improved Land! This may be the opportunity you are looking for to create impressive income. This age-restricted 55+ property is centrally located and close to Shopping, Restaurants, Schools, fire, and police. Improved with a proposed 54 mobile home spaces, 47 of which have separate meters for gas, electricity. Space dimensions accommodate a mix of triple-wide, double, and single-wide manufactured homes and mobile homes. The current market would support $650 monthly space rent for $421,200 annual gross income, pro forma cap rate 28%. The Town of Paradise zoning TR-1 allows for permitted use as a mobile home park, group home, or elderly community care facilities. The subject is situated within the confines of two contiguous Assessor’s parcels located west of S. Libby Road, south of Newland Road, within the town of Paradise, California. Access via a long paved driveway from S. Libby Rd gives the feeling of seclusion and privacy. A communal space is central to the park where either 4 spaces could be created or a common multi-use building could be re-built, next to the USPS mailbox cluster. The park has six septic tanks. Trenching for septic and public water to each space will be the responsibility of the new owner, has not been investigated by the listing brokerage or Seller. Water is available at the street, Paradise Irrigation District. Before the Camp Fire in 2018, the park was a thriving community known as Holly Hills Senior Mobile Home Park. An appraisal done by Nelson M. Wong, MAI for a national bank in July 2017 valued the park at $2.55M with a 91% vacancy at the time. The present utility infrastructure was rebuilt at no cost to the owner. APNs: 054181-011 and 054-81-026 for a combined 6.29 acres. Flood insurance is not required. California earthquake Zone 3 (very low risk). Lower Paradise, which means little chance of snow. No apparent adverse easements, encroachments or other conditions currently impacting the subject.

Details

Listing IDSN24028724
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Days On Site64
Listing Provided ByUpside Real Estate 530-298-8205 | Dustin Cheatham

Features

Units54
Acreage6.29

Market Activity 95969

MLS Internet Data Exchange (IDX) information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the California Regional MLS.

Request a showing

Request a showing

Loading Form

Contact

Learn More About This Property

StateCA
CountyButte
CityParadise
Zip Code95969
Listing VS Median (in 95969)
Price:
$998,000
low | high
Med:
$399,000
100% of Average
On Site:
64
low | high
Med:
24.500000
100% of Average
Sourced by Back At You
Listing Updated: March 29, 2024 at 9:51:22 AM PDT
Real Estate Links Our Domains