Mobile Home in All-Age
For Sale
$285,000
110-890 38th Ave, Santa Cruz, CA 95062
Single-wide converted to three bedrooms with one bath, plus two-car parking, a small yard, and shed in an all-age park.
Property Size600 SF
Price / SF$475
Days on Market52
Property Features for 110-890 38th Ave
General Information
Standard status
Active
Size
600 SF
Property subtype
Manufactured In Park
Listing Agency:
Compass
(831) 818-7372
Listed By:
Michele Replogle · License #01454037
(831) 818-7372
Source:
Exprealty
Added: Jul 2
Changed: Aug 20
Last Checked: Aug 21 at 12:20PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Compass
Investment Insights
Based on property information with market context.
A small but functional mobile home originally a single wide that has been expanded with an added living room and an extra bedroom. The home currently operates as a three-bedroom, one-bath layout. Outside, it includes two-car parking and a small backyard with a shed.
This is located in an all-age park where the park bills electricity, water, and gas on a sub-metered basis. Sewer is included in the park rent, and garbage is separate. Long-term rentals only are permitted, and park approval is required.
Park operations also note a current space rent level, though specific ownership and financing details are not provided. Interested parties should plan on the approval process prior to moving forward.
This is located in an all-age park where the park bills electricity, water, and gas on a sub-metered basis. Sewer is included in the park rent, and garbage is separate. Long-term rentals only are permitted, and park approval is required.
Park operations also note a current space rent level, though specific ownership and financing details are not provided. Interested parties should plan on the approval process prior to moving forward.
Key Highlights
- Converted single‑wide with 3 bedrooms and 1 bath
- Two‑car parking plus small backyard with a shed
- All‑age park; park approval required
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$15,444
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.42%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$308,880
$308.9K
Cap Rate 7%
$220,629
$220.6K
Cap Rate 9%
$171,600
$171.6K
Market Conditions
NOI Build-Up for 600 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$28.8K $48.00/SF
− Vacancy
−$720 −$1.20/SF
EGI
$28.1K $46.80/SF
− OpEx
−$12.6K −$21.06/SF
NOI
$15.4K $25.74/SF
Area
Santa Cruz County, CA
Vacancy
2.50%
Lease Rate
$48.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$308,880
Cap Rate 7%
$220,629
Cap Rate 9%
$171,600
Alternative Uses
Best Use
Apartment 5plus
$220.6K
$193.1K – $257.4K
NOI $15,444 @ 7.0% cap · market cap 5.42%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$343.1K
$300.2K – $400.3K
NOI $24,016 @ 7.0% cap · market cap 8.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,180
Businesses Nearby
Explore this area
Business Placement
Demographics for 95062, CA
36,268
Population
17,055
Households
2.1
Avg Household Size
43
Median Age
51%
College-Educated
93%
High-School Grad
5.1 sq mi
ZIP Area
7,111
Density / Sq Mi
$108,261
Median Household Income
$54,059
Median Earnings
$2,291
Median Rent
$1,064,600
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mobile home & RV park - Single-wide converted to three bedrooms with one bath, plus two-car parking, a small yard, and shed in an all-age park.
Where is this mobile home & rv park located?
The property is located at 110-890 38th Ave Santa Cruz, CA.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: Converted single‑wide with 3 bedrooms and 1 bath; Two‑car parking plus small backyard with a shed; All‑age park; park approval required
