6355 Lincoln Blvd, Oroville, CA 95966

Iron Oaks Mobile Home Park is a 40-site, all-age manufactured housing community with one single-family residence, located in the Greater Oroville area of Northern California. The property presents a value-add opportunity driven by below-market rents, infill potential, recent capital improvements, and a HCD approved 24-site expansion component, which will increase the permitted sites from 40 to 64 once complete. Ownership has completed upgrades to enhance the quality and long-term performance of the community, including repaving the central roadway, refreshing the laundry facility, renovating the front single-family residence, removing older homes, and installing new mobile homes. The property is served by municipal water, private septic, and direct-billed gas and electric. The community consists of 30 occupied tenant-owned homes, four occupied park-owned homes, and six vacant lots ready for new home placement. The average space rent of $617 per month is approximately 15% below market. The four newer park-owned homes are currently leased between $1,300 and $1,520 per month and are valued at a total of $340,000, or $85,000 per home. The stick-built single-family residence located at the front of the community is undergoing final improvements, including a new roof, and is expected to be leased prior to closing. An adjacent 6.68-acre parcel has received approvals from HCD to expand the community by 24 additional mobile home sites. The expansion has the civil improvement plans in place and building permits under HUD review. Comcast/Xfinity has committed to covering the majority of infrastructure costs for internet, TV, and voice service installation. The adjacent parcel and associated improvements are valued at $312,000. Strategically located in the Greater Oroville area, serving an approximate population of ~55,000, Iron Oaks MHP benefits from a stable regional economy supported by healthcare, government services, higher education, agriculture, water and energy infrastructure, and recreation anchored by Lake Oroville. With convenient access to State Route 70 and close proximity to Chico, Yuba City, and Sacramento, Iron Oaks MHP is well positioned to meet sustained demand for affordable workforce housing throughout Northern California.