Gated Senior Mobile Home
For Sale
$310,000
23-8301 Mission Gorge Rd, Santee, CA 92071
Manufactured home with updated interior finishes and access to extensive resident amenities.
Property Size1,510 SF
Price / SF$205.30
Days on Market14
Property Features for 23-8301 Mission Gorge Rd
General Information
Standard status
Active
Size
1,510 SF
Property subtype
Manufactured In Park
Listing Agency:
San Diego Living
(619) 384-4148
Listed By:
Win Haas
(619) 384-4148
Source:
Exprealty
Added: Aug 17
Changed: Aug 30
Last Checked: Aug 30 at 8:08PM
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 San Diego Living
Investment Insights
Based on property information with market context.
This 1,510-square-foot manufactured home is located within a gated senior living community. The residence offers three bedrooms and two bathrooms, with vaulted ceilings, recessed lighting, and laminate flooring throughout. The kitchen includes an electrified island, substantial counter space, a large pantry, and custom lighting. A fireplace anchors the living room, while the primary suite features a walk-in closet, tub and shower enclosure, towel warmer, and personal heater. An additional bonus room provides flexible space for sewing, crafts, or a home office.
Community amenities include a pool, Jacuzzi, sauna room, library, game room, billiards room, horseshoe area, putting green, and clubhouse programming such as potlucks and bingo. A weekly free food pantry is also available. The property is located at 23-8301 Mission Gorge Rd in Santee, California, near shopping and parks.
Community amenities include a pool, Jacuzzi, sauna room, library, game room, billiards room, horseshoe area, putting green, and clubhouse programming such as potlucks and bingo. A weekly free food pantry is also available. The property is located at 23-8301 Mission Gorge Rd in Santee, California, near shopping and parks.
Key Highlights
- 1,510‑square‑foot manufactured home in a gated senior living community
- Three bedrooms and two bathrooms with vaulted ceilings and laminate flooring
- Kitchen includes an electrified island, large pantry, and custom lighting
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
$25,089
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
8.09%
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%
$501,780
$501.8K
Cap Rate 7%
$358,414
$358.4K
Cap Rate 9%
$278,767
$278.8K
Market Conditions
NOI Build-Up for 1,510 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
$48.0K $31.80/SF
− Vacancy
−$2.4K −$1.59/SF
EGI
$45.6K $30.21/SF
− OpEx
−$20.5K −$13.59/SF
NOI
$25.1K $16.62/SF
Area
San Diego County, CA
Vacancy
5.00%
Lease Rate
$31.80 /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%
$501,780
Cap Rate 7%
$358,414
Cap Rate 9%
$278,767
Alternative Uses
Best Use
Apartment 5plus
$358.4K
$313.6K – $418.2K
NOI $25,089 @ 7.0% cap · market cap 8.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$691.8K
$605.4K – $807.1K
NOI $48,428 @ 7.0% cap · market cap 15.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
53
Businesses Nearby
Explore this area
Business Placement
Demographics for 92071, CA
60,163
Population
21,732
Households
2.8
Avg Household Size
39
Median Age
33%
College-Educated
93%
High-School Grad
18.8 sq mi
ZIP Area
3,200
Density / Sq Mi
$105,603
Median Household Income
$57,045
Median Earnings
$2,202
Median Rent
$654,800
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 - Manufactured home with updated interior finishes and access to extensive resident amenities.
Where is this mobile home & rv park located?
The property is located at 23-8301 Mission Gorge Rd Santee, CA.
What is the asking price?
The asking price for this property is $310,000.
What are key features of this property?
This property features: 1,510‑square‑foot manufactured home in a gated senior living community; Three bedrooms and two bathrooms with vaulted ceilings and laminate flooring; Kitchen includes an electrified island, large pantry, and custom lighting
