Manufactured Residential Income
For Sale
$250,000
4902-4902 Old Cliffs Rd, San Diego, CA 92120
Two-bedroom, two-bath manufactured home in a senior mobile home park with updated flooring and a private outdoor setting.
Property Size1,120 SF
Price / SF$223.21
Days on Market14
Property Features for 4902-4902 Old Cliffs Rd
General Information
Standard status
Active
Size
1,120 SF
Property subtype
Manufactured In Park
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Amenities
patio
custom shed
upright freezer
security doors
dual pane windows
decorative shutters
wide entry stairs
newer hardi-board skirting
vaulted ceiling
dining room chandelier
vinyl windows with custom real wood shutters
new laminated flooring
spacious kitchen
dishwasher
gas stove
microwave
refrigerator
washer and dryer
walk-in closet
step-in shower
tub/shower combo
Building Details
Year Built
2002
Buildings
1
Construction
manufactured
Listing Agency:
Realty Nest Group
(805) 279-2077
Listed By:
Carlos Aguilar
(805) 279-2077
Source:
Exprealty
Added: Jul 30
Changed: Aug 11
Last Checked: Aug 11 at 5:16AM
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 Realty Nest Group
Investment Insights
Based on property information with market context.
This 1,120-square-foot manufactured home was built in 2002 and offers a two-bedroom, two-bath layout within The Cliffs Senior Mobile Home Park. Interior improvements include new laminate flooring, vaulted ceilings, a dining area, and a kitchen with a sit-down counter, dishwasher, garbage disposal, gas range, microwave, and newer faucet. The refrigerator, full-size washer, and dryer convey with the home. The primary bedroom includes a walk-in closet, large vanity, and step-in shower, while the guest bath features a tub and shower combination.
Outdoor features include a low-maintenance yard, potted plants, a semi-private patio beneath cypress trees, and a custom shed with shelving, power, and an upright freezer. Security doors, dual-pane windows, decorative shutters, wide entry stairs, and newer hardi-board skirting provide additional functional improvements. The property is located at 4902-4902 Old Cliffs Rd, San Diego, CA.
Outdoor features include a low-maintenance yard, potted plants, a semi-private patio beneath cypress trees, and a custom shed with shelving, power, and an upright freezer. Security doors, dual-pane windows, decorative shutters, wide entry stairs, and newer hardi-board skirting provide additional functional improvements. The property is located at 4902-4902 Old Cliffs Rd, San Diego, CA.
Key Highlights
- 1,120‑square‑foot manufactured home built in 2002
- Two‑bedroom, two‑bath floor plan
- New laminate flooring installed throughout
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
$18,511
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
7.40%
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%
$370,220
$370.2K
Cap Rate 7%
$264,443
$264.4K
Cap Rate 9%
$205,678
$205.7K
Market Conditions
NOI Build-Up for 1,120 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
$35.6K $31.80/SF
− Vacancy
−$2.0K −$1.75/SF
EGI
$33.7K $30.05/SF
− OpEx
−$15.1K −$13.52/SF
NOI
$18.5K $16.53/SF
Area
San Diego, CA
Vacancy
5.50%
Lease Rate
$31.80 /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%
$370,220
Cap Rate 7%
$264,443
Cap Rate 9%
$205,678
Alternative Uses
Best Use
Apartment 5plus
$264.4K
$231.4K – $308.5K
NOI $18,511 @ 7.0% cap · market cap 7.40%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$442.4K
$387.1K – $516.1K
NOI $30,966 @ 7.0% cap · market cap 12.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
488
Businesses Nearby
Explore this area
Business Placement
Demographics for 92120, CA
30,768
Population
13,253
Households
2.3
Avg Household Size
40
Median Age
57%
College-Educated
96%
High-School Grad
7.7 sq mi
ZIP Area
3,996
Density / Sq Mi
$114,579
Median Household Income
$61,123
Median Earnings
$2,416
Median Rent
$870,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom, two-bath manufactured home in a senior mobile home park with updated flooring and a private outdoor setting.
Where is this residential income property located?
The property is located at 4902-4902 Old Cliffs Rd San Diego, CA.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 1,120‑square‑foot manufactured home built in 2002; Two‑bedroom, two‑bath floor plan; New laminate flooring installed throughout
