Updated Home in Senior
For Sale
$428,000
Pending
60 wilson Way 117, Milpitas, CA 95035
Updated 3-bedroom, 2-bath home in Milpitas senior community.
Property Size1,180 SF
Days on Market122
Property Features for 60 wilson Way 117
General Information
Standard status
Pending
Size
1,180 SF
Property subtype
Commercial
Building Details
Building Size
1,180 SF
Year Built
2012
Stories
1
Listing Agency:
(415) 846-8456
Listed By:
Vinson Trac
(415) 846-8456
Source:
Elliman
Added: Apr 24
Changed: Aug 8
Last Checked: Jul 23 at 6:34AM
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 Vinson Trac
Investment Insights
Based on property information with market context.
This updated manufactured home is located in the Pioneer Mobile Home Park, a senior community in Milpitas. The home features 3 bedrooms and 2 bathrooms, with a floor plan designed for comfortable living. The kitchen includes counter seating and opens to the living and dining areas. Recent improvements include new interior paint, recessed lighting, new flooring, and new appliances. A handicap lift is also installed. The community provides a pool, clubhouse, and community center. The home benefits from an abundance of natural light. The property is conveniently located near shopping, restaurants, and major commute routes. Pioneer Mobile Home Park requires at least one resident to be 55+, with all other occupants age 30+. The space rent is approximately $365 per month and expected to remain the same for the new owner, per park management (buyer to verify). The location has a bike score of 64, indicating it is bikeable, a walk score of 51, indicating it is somewhat walkable, and a transit score of 38, indicating some transit options are available.
Key Highlights
- Rare low space rent of approximately $365 per month (buyer to verify).
- Updated manufactured home with new interior paint, recessed lighting, flooring, and appliances.
- 3‑bedroom, 2‑bath home** with a comfortable and functional floor plan.
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
$22,429
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
5.24%
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%
$448,580
$448.6K
Cap Rate 7%
$320,414
$320.4K
Cap Rate 9%
$249,211
$249.2K
Market Conditions
NOI Build-Up for 1,180 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
$42.5K $36.00/SF
− Vacancy
−$1.7K −$1.44/SF
EGI
$40.8K $34.56/SF
− OpEx
−$18.4K −$15.55/SF
NOI
$22.4K $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%
$448,580
Cap Rate 7%
$320,414
Cap Rate 9%
$249,211
Alternative Uses
Best Use
Apartment 5plus
$320.4K
$280.4K – $373.8K
NOI $22,429 @ 7.0% cap · market cap 5.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$712.4K
$623.3K – $831.1K
NOI $49,867 @ 7.0% cap · market cap 11.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
802
Businesses Nearby
Explore this area
Business Placement
Demographics for 95035, CA
80,440
Population
25,851
Households
3.1
Avg Household Size
37
Median Age
59%
College-Educated
90%
High-School Grad
22.4 sq mi
ZIP Area
3,591
Density / Sq Mi
$176,723
Median Household Income
$81,070
Median Earnings
$3,110
Median Rent
$1,180,700
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 - Updated 3-bedroom, 2-bath home in Milpitas senior community.
Where is this mobile home & rv park located?
The property is located at 60 wilson Way 117 Milpitas, CA.
What is the asking price?
The asking price for this property is $428,000.
What are key features of this property?
This property features: Rare low space rent of approximately $365 per month (buyer to verify).; Updated manufactured home with **new interior paint, recessed lighting, flooring, and appliances.**; 3‑bedroom, 2‑bath home** with a comfortable and functional floor plan.
