Remodeled Manufactured Home in 55+
For Sale
$375,000
38356 Devils Canyon Drive, Palm Desert, CA 92260
Remodeled manufactured home with new dual-pane windows, updated flooring, and an open living concept in a pet-friendly 55+ community.
Property Size1,368 SF
Price / SF$274.12
Days on Market94
Property Features for 38356 Devils Canyon Drive
General Information
Standard status
Active
Size
1,368 SF
Total Parking Spaces
3
Property subtype
Manufactured In Park
Amenities
restaurant
bar
pro shop
salt water heated pools
gym
billards room
Golf, Gated
Tennis Court(s), Barbecue, Basketball Court, Billiard Room, Clubhouse, Fitness Center, Golf Course, RV Parking, Maintenance Grounds, Management, Recreation Room, Sauna, Sport Court
Central Air
Central
Mountain(s)
Attached Carport, Driveway
Building Details
Building Size
1,368 SF
Year Built
1972
Stories
1
Listing Agency:
L & L Realtors
(760) 799-8326
Listed By:
Lisa Strohm · License #01505239
(760) 799-8326
Source:
Evrealestate
Added: May 30
Changed: Aug 27
Last Checked: Aug 30 at 2:46PM
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 L & L Realtors
Investment Insights
Based on property information with market context.
Remodeled manufactured home located in a 55+ community, featuring new energy-efficient dual-pane windows, updated flooring, and a refreshed kitchen with new appliances and quartz counters. The home includes an open living concept and is described as situated on a greenbelt area within a quiet inside street setting.
Palm Desert Greens offers a range of on-site amenities, including a fully staffed restaurant and bar, pro shop, salt water heated pools, a gym, and a billiards room, along with social clubs and activities to join.
Buyer is advised to verify square footage of the home.
Palm Desert Greens offers a range of on-site amenities, including a fully staffed restaurant and bar, pro shop, salt water heated pools, a gym, and a billiards room, along with social clubs and activities to join.
Buyer is advised to verify square footage of the home.
Key Highlights
- Remodeled manufactured home in a 55+ community on a quiet inside street
- Upgrades include new energy‑efficient dual pane windows and updated flooring
- Updated kitchen with new appliances and quartz counters
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
$22,143
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
5.90%
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%
$442,860
$442.9K
Cap Rate 7%
$316,329
$316.3K
Cap Rate 9%
$246,033
$246.0K
Market Conditions
NOI Build-Up for 1,368 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
$41.0K $30.00/SF
− Vacancy
−$780 −$0.57/SF
EGI
$40.3K $29.43/SF
− OpEx
−$18.1K −$13.24/SF
NOI
$22.1K $16.19/SF
Area
Riverside County, CA
Vacancy
1.90%
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%
$442,860
Cap Rate 7%
$316,329
Cap Rate 9%
$246,033
Alternative Uses
Best Use
Apartment 5plus
$316.3K
$276.8K – $369.1K
NOI $22,143 @ 7.0% cap · market cap 5.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$409.8K
$358.6K – $478.1K
NOI $28,688 @ 7.0% cap · market cap 7.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
72
Businesses Nearby
Explore this area
Business Placement
Demographics for 92260, CA
31,641
Population
21,659
Households
1.5
Avg Household Size
57
Median Age
38%
College-Educated
92%
High-School Grad
31.3 sq mi
ZIP Area
1,011
Density / Sq Mi
$72,252
Median Household Income
$41,810
Median Earnings
$1,654
Median Rent
$463,500
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 - Remodeled manufactured home with new dual-pane windows, updated flooring, and an open living concept in a pet-friendly 55+ community.
Where is this mobile home & rv park located?
The property is located at 38356 Devils Canyon Drive Palm Desert, CA.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Remodeled manufactured home in a 55+ community on a quiet inside street; Upgrades include new energy‑efficient dual pane windows and updated flooring; Updated kitchen with new appliances and quartz counters
