Charming Mobile Home in
For Sale
$359,000
Pending
347 Carmel Ave 14, Marina, CA 93933
Well-maintained 3 bed, 2 bath mobile home near Monterey Bay.
Property Size1,254 SF
Days on Market145
Property Features for 347 Carmel Ave 14
General Information
Standard status
Pending
Size
1,254 SF
Property subtype
Commercial
Building Details
Building Size
1,254 SF
Year Built
2005
Listing Agency:
Ikonik Realty
(831) 998-0278
Listed By:
Lawrence Hernandez · License #01963856
(831) 998-0278
Source:
Elliman
Added: Mar 31
Changed: Aug 8
Last Checked: Jul 23 at 11:15AM
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 Ikonik Realty
Investment Insights
Based on property information with market context.
This well-maintained mobile home features 3 bedrooms and 2 bathrooms. Located in a desirable Marina community, it is situated minutes from local shops, dining, and the Monterey Bay Coastline. The home includes updated appliances, newer carpet in the living room and bedrooms, and new laminate flooring in the dining and kitchen area. The layout is bright and functional, offering comfortable living spaces and a separate laundry room. A spacious carport provides ample parking, and a large storage shed offers added convenience.
Key Highlights
- Desirable Marina community location near Monterey Bay Coastline, shops, and dining.
- Updated appliances and newer flooring (carpet and laminate).
- Boasting 3 bedrooms and 2 bathrooms.
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
$20,174
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
5.62%
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%
$403,480
$403.5K
Cap Rate 7%
$288,200
$288.2K
Cap Rate 9%
$224,156
$224.2K
Market Conditions
NOI Build-Up for 1,254 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
$37.6K $30.00/SF
− Vacancy
−$941 −$0.75/SF
EGI
$36.7K $29.25/SF
− OpEx
−$16.5K −$13.16/SF
NOI
$20.2K $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%
$403,480
Cap Rate 7%
$288,200
Cap Rate 9%
$224,156
Alternative Uses
Best Use
Apartment 5plus
$288.2K
$252.2K – $336.2K
NOI $20,174 @ 7.0% cap · market cap 5.62%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$478.8K
$419.0K – $558.6K
NOI $33,517 @ 7.0% cap · market cap 9.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
718
Businesses Nearby
Explore this area
Business Placement
Demographics for 93933, CA
27,218
Population
10,227
Households
2.7
Avg Household Size
35
Median Age
42%
College-Educated
90%
High-School Grad
10.7 sq mi
ZIP Area
2,544
Density / Sq Mi
$92,625
Median Household Income
$44,382
Median Earnings
$2,015
Median Rent
$776,900
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 - Well-maintained 3 bed, 2 bath mobile home near Monterey Bay.
Where is this mobile home & rv park located?
The property is located at 347 Carmel Ave 14 Marina, CA.
What is the asking price?
The asking price for this property is $359,000.
What are key features of this property?
This property features: Desirable Marina community location near Monterey Bay Coastline, shops, and dining.; Updated appliances and newer flooring (carpet and laminate).; Boasting 3 bedrooms and 2 bathrooms.
