Spacious Mobile Home in
For Sale
$380,000
Pending
500 W 10th St 119, Gilroy, CA 95020
Well-maintained mobile home in a desirable, amenity-rich community.
Property Size1,620 SF
Days on Market130
Property Features for 500 W 10th St 119
General Information
Standard status
Pending
Size
1,620 SF
Property subtype
Commercial
Building Details
Building Size
1,620 SF
Year Built
2004
Listing Agency:
(408) 832-1384
Listed By:
David Silva
(408) 832-1384
Source:
Elliman
Added: Apr 15
Changed: Aug 17
Last Checked: Jul 23 at 10:53AM
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 David Silva
Investment Insights
Based on property information with market context.
This well-maintained mobile home, built in 2004, is located within the Pacific Mobile Estates community. It is one of only eight 60-foot mobile homes in the community that features an extended driveway. The home offers approximately 1,620 sq ft of living space, with an open floor plan that includes 3 bedrooms and 2 bathrooms. Interior features include vaulted ceilings, double-pane windows, a large kitchen island, laminate flooring, central HVAC, a dedicated laundry room, and walk-in closets. The property also has a cemented side yard and a covered 2-car carport. Pacific Mobile Estates is an all-ages, pet-friendly community with amenities such as a swimming pool, clubhouse, and car wash area. The location provides convenient access to shopping, dining, Christmas Hill Park, and Highway 101. The bike score is 68, indicating it is bikeable, and the walk score is 66, indicating it is somewhat walkable.
Key Highlights
- Rare 60‑foot mobile home in desirable Pacific Mobile Estates (only 8 exist).
- Spacious 1,620 sq ft open floor plan with 3 bedrooms and 2 bathrooms.
- Well‑maintained with modern features: vaulted ceilings, double‑pane windows, large kitchen island, laminate flooring, and central HVAC.
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
$30,793
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
8.10%
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%
$615,860
$615.9K
Cap Rate 7%
$439,900
$439.9K
Cap Rate 9%
$342,144
$342.1K
Market Conditions
NOI Build-Up for 1,620 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
$58.3K $36.00/SF
− Vacancy
−$2.3K −$1.44/SF
EGI
$56.0K $34.56/SF
− OpEx
−$25.2K −$15.55/SF
NOI
$30.8K $19.01/SF
Area
Santa Clara County, CA
Vacancy
4.00%
Lease Rate
$36.00 /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%
$615,860
Cap Rate 7%
$439,900
Cap Rate 9%
$342,144
Alternative Uses
Best Use
Apartment 5plus
$439.9K
$384.9K – $513.2K
NOI $30,793 @ 7.0% cap · market cap 8.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$978.0K
$855.8K – $1.14M
NOI $68,461 @ 7.0% cap · market cap 18.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
786
Businesses Nearby
Explore this area
Business Placement
Demographics for 95020, CA
68,090
Population
20,679
Households
3.3
Avg Household Size
37
Median Age
28%
College-Educated
83%
High-School Grad
151.8 sq mi
ZIP Area
449
Density / Sq Mi
$134,242
Median Household Income
$50,421
Median Earnings
$2,256
Median Rent
$1,005,600
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 mobile home in a desirable, amenity-rich community.
Where is this mobile home & rv park located?
The property is located at 500 W 10th St 119 Gilroy, CA.
What is the asking price?
The asking price for this property is $380,000.
What are key features of this property?
This property features: Rare 60‑foot mobile home in desirable Pacific Mobile Estates (only 8 exist).; Spacious 1,620 sq ft open floor plan with 3 bedrooms and 2 bathrooms.; Well‑maintained with modern features: vaulted ceilings, double‑pane windows, large kitchen island, laminate flooring, and central HVAC.
