Land-Owned Senior Mobile
For Sale
$348,000
1131 Greenhill Way, Corona, CA 92882
Senior community mobile home with permitted addition, indoor laundry, storage shed, and covered parking for multiple vehicles.
Property Size1,440 SF
Price / SF$241.67
Days on Market37
Property Features for 1131 Greenhill Way
General Information
Standard status
Active
Size
1,440 SF
Total Parking Spaces
3
Property subtype
Manufactured In Park
Additional Details
Highway Access
Yes
Listing Agency:
Kinetic Realty
(562) 708-7379
Listed By:
Danielle Miller · License #01311722
(562) 708-7379
Source:
Exprealty
Added: Jul 1
Changed: Jul 21
Last Checked: Jul 31 at 11:33AM
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 Kinetic Realty
Investment Insights
Based on property information with market context.
This land-owned senior community mobile home offers a bright interior with a living and dining area featuring built-in cabinets. The open kitchen overlooks the family room and bonus room. The primary suite includes two closets, built-in cabinets, and an en-suite with dual vanity sinks. A second bedroom provides direct access to the hall bathroom and includes built-in cabinets and a large closet. Additional features include an indoor laundry area, a storage shed, yard space, and a large front porch with covered parking accommodating approximately 2–3 cars. The original home was approximately 1,440 square feet with a permitted addition of approximately 240 square feet.
The community provides shared amenities including a heated pool and a clubhouse with a full kitchen for activities such as bingo and line dancing. Motor home spaces are available for rent, and the HOA is described as quarterly with no space rent. The community is for seniors, with one occupant required to be 55+.
Access to daily needs is supported by proximity to shopping, a senior center, the bus stop, fire station, and freeway.
The community provides shared amenities including a heated pool and a clubhouse with a full kitchen for activities such as bingo and line dancing. Motor home spaces are available for rent, and the HOA is described as quarterly with no space rent. The community is for seniors, with one occupant required to be 55+.
Access to daily needs is supported by proximity to shopping, a senior center, the bus stop, fire station, and freeway.
Key Highlights
- Own‑the‑land senior mobile home in Village Grove Mobile Home Estates (1 occupant must be 55+)
- Permitted addition added approximately 240 SF to original 1,440 SF home
- Indoor laundry area plus storage shed and yard space
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
$21,624
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
6.21%
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%
$432,480
$432.5K
Cap Rate 7%
$308,914
$308.9K
Cap Rate 9%
$240,267
$240.3K
Market Conditions
NOI Build-Up for 1,440 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
$41.5K $28.80/SF
− Vacancy
−$2.2K −$1.50/SF
EGI
$39.3K $27.30/SF
− OpEx
−$17.7K −$12.29/SF
NOI
$21.6K $15.02/SF
Area
Corona, CA
Vacancy
5.20%
Lease Rate
$28.80 /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%
$432,480
Cap Rate 7%
$308,914
Cap Rate 9%
$240,267
Alternative Uses
Best Use
Apartment 5plus
$308.9K
$270.3K – $360.4K
NOI $21,624 @ 7.0% cap · market cap 6.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$447.9K
$391.9K – $522.6K
NOI $31,353 @ 7.0% cap · market cap 9.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
895
Businesses Nearby
Explore this area
Business Placement
Demographics for 92882, CA
67,894
Population
20,757
Households
3.3
Avg Household Size
36
Median Age
29%
College-Educated
85%
High-School Grad
11.8 sq mi
ZIP Area
5,754
Density / Sq Mi
$100,668
Median Household Income
$46,092
Median Earnings
$2,093
Median Rent
$653,600
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 - Senior community mobile home with permitted addition, indoor laundry, storage shed, and covered parking for multiple vehicles.
Where is this mobile home & rv park located?
The property is located at 1131 Greenhill Way Corona, CA.
What is the asking price?
The asking price for this property is $348,000.
What are key features of this property?
This property features: Own‑the‑land senior mobile home in Village Grove Mobile Home Estates (1 occupant must be 55+); Permitted addition added approximately 240 SF to original 1,440 SF home; Indoor laundry area plus storage shed and yard space
