Move-In Ready Mobile
For Sale
$215,000
54-3960 S Higuera St, San Luis Obispo, CA 93401
Move-in ready 1973 mobile home with 2 bedrooms, 1 bath, dual-pane windows, and fenced yard in an all-age park.
Property Size800 SF
Price / SF$268.75
Days on Market51
Property Features for 54-3960 S Higuera St
General Information
Standard status
Active
Size
800 SF
Total Parking Spaces
2
Property subtype
Manufactured In Park
Additional Details
Fenced Yard
Yes
Amenities
clubhouse
recreation room
swimming pool
spa
playground
dog park
picnic area
Building Details
Year Built
1973
Stories
1
Listing Agency:
BHGRE HAVEN PROPERTIES
(805) 592-2050
Listed By:
Judy Fitzgerald
(805) 441-6424
Source:
Exprealty
Added: Jul 20
Changed: Aug 20
Last Checked: Sep 7 at 11:21AM
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 BHGRE HAVEN PROPERTIES
Investment Insights
Based on property information with market context.
This well-maintained 1973 mobile home offers approximately 800 square feet of comfortable living space with 2 bedrooms and 1 bathroom. Fresh interior paint and laminate/vinyl flooring help create a bright interior, while dual-pane windows provide added comfort and energy efficiency. The kitchen includes stainless steel appliances. Outside, the fenced yard offers space for pets, gardening, or relaxing, and a large storage shed provides room for tools, hobbies, or extra belongings. An adjacent carport provides parking for two vehicles.
The home is located in Creekside Mobile Home Park, an all-age community. Residents have access to a spacious clubhouse, recreation room, swimming pool and spa, along with a playground and a dog park with a picnic area along San Luis Creek. The property is described as being near the Public Market and grocery and other shopping areas.
The adjacent carport, fenced yard, and on-site storage are designed to support day-to-day convenience within a community setting that includes multiple shared amenities.
The home is located in Creekside Mobile Home Park, an all-age community. Residents have access to a spacious clubhouse, recreation room, swimming pool and spa, along with a playground and a dog park with a picnic area along San Luis Creek. The property is described as being near the Public Market and grocery and other shopping areas.
The adjacent carport, fenced yard, and on-site storage are designed to support day-to-day convenience within a community setting that includes multiple shared amenities.
Key Highlights
- 1973 mobile home in Creekside Mobile Home Park (all‑age) with 2 bedrooms, 1 bath, and approx. 800 SF
- Fresh interior paint and laminate/vinyl flooring, plus dual‑pane windows for added comfort and energy efficiency
- Kitchen includes stainless steel appliances
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
$15,444
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
7.18%
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%
$308,880
$308.9K
Cap Rate 7%
$220,629
$220.6K
Cap Rate 9%
$171,600
$171.6K
Market Conditions
NOI Build-Up for 800 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
$28.8K $36.00/SF
− Vacancy
−$720 −$0.90/SF
EGI
$28.1K $35.10/SF
− OpEx
−$12.6K −$15.80/SF
NOI
$15.4K $19.31/SF
Area
San Luis Obispo County, CA
Vacancy
2.50%
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%
$308,880
Cap Rate 7%
$220,629
Cap Rate 9%
$171,600
Alternative Uses
Best Use
Apartment 5plus
$220.6K
$193.1K – $257.4K
NOI $15,444 @ 7.0% cap · market cap 7.18%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$314.6K
$275.3K – $367.1K
NOI $22,024 @ 7.0% cap · market cap 10.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
832
Businesses Nearby
Explore this area
Business Placement
Demographics for 93401, CA
29,877
Population
14,363
Households
2.1
Avg Household Size
39
Median Age
57%
College-Educated
96%
High-School Grad
64.2 sq mi
ZIP Area
465
Density / Sq Mi
$95,386
Median Household Income
$47,898
Median Earnings
$1,859
Median Rent
$943,500
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 - Move-in ready 1973 mobile home with 2 bedrooms, 1 bath, dual-pane windows, and fenced yard in an all-age park.
Where is this mobile home & rv park located?
The property is located at 54-3960 S Higuera St San Luis Obispo, CA.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: 1973 mobile home in Creekside Mobile Home Park (all‑age) with 2 bedrooms, 1 bath, and approx. 800 SF; Fresh interior paint and laminate/vinyl flooring, plus dual‑pane windows for added comfort and energy efficiency; Kitchen includes stainless steel appliances
