Westwind Mobile Home Park — Sale in Lower Lake, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Lower Lake, CA 95457

Investment Figures

Cap rate
6.15%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Westwind Mobile Home Park is located at 11270 Konocti Vista Drive in Lower Lake, California. The park is licensed for 42 mobile homes and currently consists of 19 SW, 22 DW, and 1 Duplex. One of the MH Units sits on 2 MH sites, sites #20 & #21. This is an age restricted park (55+) that has the feel and amenities of a senior retirement community. It is insulated by geography with the mountains on one side and Clearlake on the other. Amenities include a boat dock area, pool, BBQ space and RV Storage. Lower Lake is a quiet, retirement oriented community located approximately 100 miles from Downtown San Francisco and 95 miles from Downtown Sacramento. Lower Lake is located in Lake County, on the southern shore of Clear Lake, which is the largest natural lake in California. The park is serviced by an on-site septic system that has recently been upgraded. Tenants are charged $36.80 monthly for sewer. Water is pulled from Clearlake and is run through a brand new purification and filtration system that the current owners have spent over $200,000 on. Tenants are billed $86.50 monthly for water plus usage. Propane is provided by Westgate Petroleum, and Electricity is provided by PG&E. Both are sub-metered to the residents. The tenants are billed a flat rate for Garbage of $35.54 monthly. There is no rent control in Lower Lake. Investment Highlights: • Non-Rent Controlled Market • 55+ Community • Pool, Boat Dock, BBQ Area, RV Storage

Market Context

This multifamily in Lower Lake, CA is listed for sale. It is offered at an approximate 6.2% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 101 days. Compare it against other multifamily listings for sale in Lower Lake, CA — view the full market.

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