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Listed by Sean Griffin • Agency One Real Estate
$ 6,000,000
Est. payment /mo
Active
18842 Cachagua Road Carmel Valley, CA 93924
25,000 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 25,000 sqft
Price per Sqft $240
MLS Listing ID ML82041267
HOA Y/N No
Year Built 1958
Lot Size 11.286 Acres
Property Sub-Type Other
Source Datashare MLSListings
Property Description
Excellent opportunity to own this carmel river front 46 unit mobile home park(state permit allows for 4 more units) with 5 additional homes on site and 1 Fire Station. 52 total units. Potential for 56. State permit for park allows for 50 mobile homes/RV's and currently the park has 46 mobile homes/rv's. There are 4 cabins all fully rented and a vacant Bar/Tavern with plans to convert to an ADU which should rent for an additional $2700 per month. Bar/Tavern exterior in great shape. Fire station is on a long term lease and is operated by Cachagua Fire Department. The park features a gated entrance, paved asphalt roads throughout park, security cameras, laundry room with 2 new washers and 2 new dryers, vending machine room(no vending machine included), solar lighting, a 40,000 gallon water storage facility and well with brand new well pump, well motor and new backup generator, 4 storage buildings, riverfront beach, volleyball court and BBQ area. Rent is due to be increased now by the new buyer. Priced at a 7.1% Cap Rate at current rents! This is truly a remarkable investment property with plenty of value add opportunities remaining to get to an 8%+ Cap!
Location
State CA
County Monterey
Interior
Heating Electric, Forced Air, Propane
Cooling Ceiling Fan(s)
Fireplace No
Laundry Coin Operated
Exterior
View Mountain(s)
Building
Lot Description Level
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