Manufactured Home in 55+
For Sale
$160,000
24-1251 E Lugonia Ave, Redlands, CA 92374
Move-in ready 1,464 sq ft double wide with an open interior layout in a 55+ community with clubhouse and pool.
Property Size1,464 SF
Price / SF$109.29
Days on Market197
Property Features for 24-1251 E Lugonia Ave
General Information
Standard status
Active
Size
1,464 SF
Property subtype
Manufactured In Park
Additional Details
Business Included
No
Highway Access
Yes
Amenities
clubhouse
kitchen
pool tables
spa
swimming pool
Listing Agency:
Berkshire Hathaway Homeservices California Realty
(909) 583-9600
Listed By:
Kim Rivers
(951) 452-5424
Source:
Exprealty
Added: Feb 27
Changed: Sep 10
Last Checked: Sep 11 at 12:55PM
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 Berkshire Hathaway Homeservices California Realty
Investment Insights
Based on property information with market context.
Move-in ready and well maintained, this 1,464 sq ft double wide manufactured home offers a spacious, bright open layout with abundant natural light. The kitchen features ample cabinetry and counter space. Outside, the property includes drought tolerant landscaping designed for low-maintenance living.
The home is located within the Lugonia Fountains 55+ community, where residents have access to a clubhouse with a kitchen, pool tables, spa, and a swimming pool, with the option to reserve the clubhouse for special occasions. The community is also described as convenient to the University of Redlands, shopping, restaurants, and offers easy freeway access.
For practical everyday living and straightforward upkeep, the home’s combination of an open interior plan and easy-care landscaping is supported by the property’s move-in ready condition.
The home is located within the Lugonia Fountains 55+ community, where residents have access to a clubhouse with a kitchen, pool tables, spa, and a swimming pool, with the option to reserve the clubhouse for special occasions. The community is also described as convenient to the University of Redlands, shopping, restaurants, and offers easy freeway access.
For practical everyday living and straightforward upkeep, the home’s combination of an open interior plan and easy-care landscaping is supported by the property’s move-in ready condition.
Key Highlights
- 1,464 sq ft double wide manufactured home with an open interior layout
- Move‑in ready home in a 55+ community
- Drought tolerant, low‑maintenance landscape
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
$12,961
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
8.10%
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%
$259,220
$259.2K
Cap Rate 7%
$185,157
$185.2K
Cap Rate 9%
$144,011
$144.0K
Market Conditions
NOI Build-Up for 1,464 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
$25.1K $17.16/SF
− Vacancy
−$1.6K −$1.06/SF
EGI
$23.6K $16.10/SF
− OpEx
−$10.6K −$7.24/SF
NOI
$13.0K $8.85/SF
Area
San Bernardino County, CA
Vacancy
6.20%
Lease Rate
$17.16 /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%
$259,220
Cap Rate 7%
$185,157
Cap Rate 9%
$144,011
Alternative Uses
Best Use
Apartment 5plus
$185.2K
$162.0K – $216.0K
NOI $12,961 @ 7.0% cap · market cap 8.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$308.8K
$270.2K – $360.3K
NOI $21,617 @ 7.0% cap · market cap 13.51%
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
482
Businesses Nearby
Explore this area
Business Placement
Demographics for 92374, CA
43,587
Population
15,038
Households
2.9
Avg Household Size
35
Median Age
37%
College-Educated
90%
High-School Grad
17.9 sq mi
ZIP Area
2,435
Density / Sq Mi
$96,237
Median Household Income
$41,349
Median Earnings
$1,972
Median Rent
$494,000
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 - Move-in ready 1,464 sq ft double wide with an open interior layout in a 55+ community with clubhouse and pool.
Where is this mobile home & rv park located?
The property is located at 24-1251 E Lugonia Ave Redlands, CA.
What is the asking price?
The asking price for this property is $160,000.
What are key features of this property?
This property features: 1,464 sq ft double wide manufactured home with an open interior layout; Move‑in ready home in a 55+ community; Drought tolerant, low‑maintenance landscape
