Building Details

Building Size 950 SF

Year Built 1970

Listing Agency: beycome brokerage realty LLC b***@beycome.com Show Phone

Listed By: Jeffrey Sklar · License #02075404 Show Phone

Source: Evrealestate

Added: Jul 27 Changed: Aug 8 Last Checked: Aug 8 at 5:50AM

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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 beycome brokerage realty LLC

Investment Insights

Based on property information with market context.

This mobile home & RV park property includes a fireplace in the living room and propane heat. Interior amenities include a microwave and refrigerator. Cooling is listed as none, with heating provided by fireplace(s) and propane. The property was built in 1970.

Set in Lassen County, directions are provided via Susanville Road to Bonita Road, then Arroyo Drive, and Corral Road, with the property on the left.

Exterior features include mountain views, with parking features listed as none. The home’s overall setup is centered around the living room fireplace and propane heating system.

Key Highlights

• Mountain views
• Propane heating plus fireplace(s)
• Living room fireplace

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

$7,760

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

6.75%

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%

$155,200 $155.2K

Cap Rate 7%

$110,857 $110.9K

Cap Rate 9%

$86,222 $86.2K

Market Conditions

NOI Build-Up for 950 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

$14.8K $15.60/SF

− Vacancy

−$711 −$0.75/SF

EGI

$14.1K $14.85/SF

− OpEx

−$6.3K −$6.68/SF

NOI

$7.8K $8.17/SF

Area

Lassen County, CA

Vacancy

4.80%

Lease Rate

$15.60 /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%

$155,200

Cap Rate 7%

$110,857

Cap Rate 9%

$86,222

Alternative Uses

Best Use

Apartment 5plus

$110.9K

$97.0K – $129.3K (±1% cap)

NOI $7,760 @ 7.0% cap · market cap 6.75%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$260.6K

$228.0K – $304.0K (±1% cap)

NOI $18,240 @ 7.0% cap · market cap 15.86%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Mobile home & RV ...

Location Intelligence

Demographics for 96113, CA

1,898

Population

412

Households

4.6

Avg Household Size

38

Median Age

9%

College-Educated

66%

High-School Grad

21.9 sq mi

ZIP Area

87

Density / Sq Mi

$54,922

Median Household Income

$48,665

Median Earnings

$1,082

Median Rent

$72,200

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 property with mountain views and fireplace living room, heated with propane and a fireplace.

Where is this mobile home & rv park located?

The property is located at 448050 Mirage Lane Herlong, CA.

What is the asking price?

The asking price for this property is $115,000.

What are key features of this property?

This property features: Mountain views; Propane heating plus fireplace(s); Living room fireplace