Building Details

Building Size 3,500 SF

Year Built 1949

Units 48

Listing Agency: RE/MAX Lake County Realty h***@gmail.com Show Phone

Listed By: Hazel Wayman · License #01827640 Show Phone

Source: Elliman

Added: Mar 23 Changed: Aug 8 Last Checked: Jul 23 at 7:53AM

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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 RE/MAX Lake County Realty

Investment Insights

Based on property information with market context.

Located in Nice, California, this mobile home park features 33 spots. The property includes two homes, one of which has been remodeled with modern finishes. There is also a large storage area that could potentially be converted into another rental space. Residents have exclusive lake access for activities such as fishing and boating. This property offers income potential in a scenic location.

Key Highlights

• 33‑spot mobile home park providing a steady income stream.
• Includes a beautifully remodeled home with modern finishes.
• Second home on the property offers privacy and customization potential.

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

$27,651

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

3.46%

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%

$553,020 $553.0K

Cap Rate 7%

$395,014 $395.0K

Cap Rate 9%

$307,233 $307.2K

Market Conditions

NOI Build-Up for 3,500 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

$52.9K $15.12/SF

− Vacancy

−$2.6K −$0.76/SF

EGI

$50.3K $14.36/SF

− OpEx

−$22.6K −$6.46/SF

NOI

$27.7K $7.90/SF

Area

Lake County, CA

Vacancy

5.00%

Lease Rate

$15.12 /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%

$553,020

Cap Rate 7%

$395,014

Cap Rate 9%

$307,233

Alternative Uses

Best Use

Apartment 5plus

$395.0K

$345.6K – $460.9K (±1% cap)

NOI $27,651 @ 7.0% cap · market cap 3.46%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.40M

$1.23M – $1.64M (±1% cap)

NOI $98,332 @ 7.0% cap · market cap 12.29%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Mobile home & RV ...

Suggested Use

Top Pick Electrical Service Plumbing Service Big Box & Wholesale Store Storage Facility Building Supply (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

107

Businesses Nearby

Explore this area Business Placement

Demographics for 95464, CA

2,725

Population

1,376

Households

2

Avg Household Size

45

Median Age

16%

College-Educated

79%

High-School Grad

2.5 sq mi

ZIP Area

1,090

Density / Sq Mi

$73,157

Median Household Income

$37,368

Median Earnings

$1,425

Median Rent

$154,100

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this mobile home & rv parks located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Mobile home & RV park - Mobile home park with 33 spots and lake access.

Where is this mobile home & rv park located?

The property is located at 3297 E State Hwy 20 Nice, CA.

What is the asking price?

The asking price for this property is $800,000.

What are key features of this property?

This property features: 33‑spot mobile home park providing a steady income stream.; Includes a **beautifully remodeled home with modern finishes.**; Second home on the property offers privacy and customization potential.