Senior Mobile Home
For Sale
$500,000
Pending
1476 Ridgemont Way, Corona, CA 92882
A retirement-oriented community featuring a newly built home completed in 2025.
Property Size1,320 SF
Days on Market64
Property Features for 1476 Ridgemont Way
General Information
Standard status
Pending
Size
1,320 SF
Property subtype
Manufactured In Park
Building Details
Year Built
2025
Listing Agency:
Century 21 Garland
(951) 734-1264
Listed By:
Ed Garland · License #00592455
(951) 315-8493
Source:
Exprealty
Added: Jul 1
Changed: Aug 30
Last Checked: Aug 31 at 6:57PM
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 Century 21 Garland
Investment Insights
Based on property information with market context.
Village Grove Mobile Home Estates is a residential community designed for active seniors seeking a retirement setting. The property includes a newly built home completed in 2025, with a stated property size of 1,320. The community is located at 1476 Ridgemont Way in Corona, California.
Key Highlights
- New home built in 2025
- Designed for active seniors
- Retirement community setting
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
$19,822
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
3.96%
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%
$396,440
$396.4K
Cap Rate 7%
$283,171
$283.2K
Cap Rate 9%
$220,244
$220.2K
Market Conditions
NOI Build-Up for 1,320 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
$38.0K $28.80/SF
− Vacancy
−$2.0K −$1.50/SF
EGI
$36.0K $27.30/SF
− OpEx
−$16.2K −$12.29/SF
NOI
$19.8K $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%
$396,440
Cap Rate 7%
$283,171
Cap Rate 9%
$220,244
Alternative Uses
Best Use
Apartment 5plus
$283.2K
$247.8K – $330.4K
NOI $19,822 @ 7.0% cap · market cap 3.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$410.6K
$359.3K – $479.0K
NOI $28,740 @ 7.0% cap · market cap 5.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,449
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 - A retirement-oriented community featuring a newly built home completed in 2025.
Where is this mobile home & rv park located?
The property is located at 1476 Ridgemont Way Corona, CA.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: New home built in 2025; Designed for active seniors; Retirement community setting
