Riverfront Mobile Home and RV
For Sale
$7,000,000
18842 Cachagua Road, Carmel Valley, CA 93924
Gated park with paved roads, cabins, river access, and on-site utility infrastructure.
Property Size25,000 SF
Lot Size12.60 Acres
Price / SF$280
Days on Market148
Property Features for 18842 Cachagua Road
General Information
Standard status
Active
Size
25,000 SF
Total Parking Spaces
80
Lot size
12.60 Acres
Property subtype
5+ Units / Five or More Units
Additional Details
Multifamily Units
54
Taxes and HOA fees
Annual Taxes
$70,000
Amenities
gated entrance
paved asphalt roads
security cameras
laundry room
vending machine room
solar lighting
water storage facility
well
backup generator
storage buildings
riverfront beach
volleyball court
BBQ area
Building Details
Year Built
1920
Buildings
54
Listing Agency:
Agency One Real Estate
(831) 262-1955
Listed By:
Sean Griffin · License #01466508
(831) 262-1955
Source:
Compass
Added: Apr 5
Changed: Aug 30
Last Checked: Aug 30 at 9:51AM
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 Agency One Real Estate
Investment Insights
Based on property information with market context.
This riverfront park occupies 12.6 acres and includes mobile home and RV sites, four cabins, two remodeled single-family riverfront homes, and a fire station under a long-term lease. The state permit allows 50 mobile homes/RV’s; 46 are currently in place, with room for four additional units. The property also includes a vacant bar/tavern with plans to convert it to an ADU.
Site improvements include a gated entry, paved asphalt roads, security cameras, a laundry room with two new washers and two new dryers, solar lighting, four storage buildings, and a vending machine room without a vending machine. Water infrastructure includes a 40,000-gallon storage facility, a well, new well pump and motor, and a backup generator. Riverfront amenities include a beach, volleyball court, and BBQ area. One remodeled home provides 1,412 square feet, two bedrooms, one bathroom, more than 325 feet of Carmel River frontage, and a private beach area.
Site improvements include a gated entry, paved asphalt roads, security cameras, a laundry room with two new washers and two new dryers, solar lighting, four storage buildings, and a vending machine room without a vending machine. Water infrastructure includes a 40,000-gallon storage facility, a well, new well pump and motor, and a backup generator. Riverfront amenities include a beach, volleyball court, and BBQ area. One remodeled home provides 1,412 square feet, two bedrooms, one bathroom, more than 325 feet of Carmel River frontage, and a private beach area.
Key Highlights
- 12.6 riverfront acres with mobile home and RV park improvements
- State permit for 50 mobile homes/RV’s; 46 currently in place
- 54 total units, including four cabins and two single‑family riverfront homes
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
$402,188
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
5.75%
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%
$8,043,760
$8.0M
Cap Rate 7%
$5,745,543
$5.7M
Cap Rate 9%
$4,468,756
$4.5M
Market Conditions
NOI Build-Up for 25,000 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
$750.0K $30.00/SF
− Vacancy
−$18.8K −$0.75/SF
EGI
$731.3K $29.25/SF
− OpEx
−$329.1K −$13.16/SF
NOI
$402.2K $16.09/SF
Area
Monterey County, CA
Vacancy
2.50%
Lease Rate
$30.00 /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%
$8,043,760
Cap Rate 7%
$5,745,543
Cap Rate 9%
$4,468,756
Alternative Uses
Best Use
Apartment 5plus
$5.75M
$5.03M – $6.70M
NOI $402,188 @ 7.0% cap · market cap 5.75%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$9.55M
$8.35M – $11.14M
NOI $668,205 @ 7.0% cap · market cap 9.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
54
Residential units
Location Intelligence
Trade Area within ½ mile
10
Businesses Nearby
Explore this area
Business Placement
Demographics for 93924, CA
6,609
Population
3,001
Households
2.2
Avg Household Size
53
Median Age
57%
College-Educated
96%
High-School Grad
187.0 sq mi
ZIP Area
35
Density / Sq Mi
$162,656
Median Household Income
$81,767
Median Earnings
$2,093
Median Rent
$1,133,000
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 - Gated park with paved roads, cabins, river access, and on-site utility infrastructure.
Where is this mobile home & rv park located?
The property is located at 18842 Cachagua Road Carmel Valley, CA.
What is the asking price?
The asking price for this property is $7,000,000.
What are key features of this property?
This property features: 12.6 riverfront acres with mobile home and RV park improvements; State permit for 50 mobile homes/RV’s; 46 currently in place; 54 total units, including four cabins and two single‑family riverfront homes
