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    Lassen Mobile Home Park Title is generated by Realmo AI

    704-550 Bangham Ln, Susanville, CA 96130

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    All-age mobile home park with 30 sites on 7.75 acres.

    Type:Mobile Home Park, Multifamily
    Property size:
    337,590 SF
    Lot size:
    7.75 Acres
    Price / SF:
    $3/SF
    Added:
    Nov 12, 2024
    Days on Market:
    567
    Last Refresh:
    May 12 at 9:11 pm

    Property Features for 704-550 Bangham Ln

    General Information

    Standard status
    Active
    Size
    337,590 SF
    Lot size
    7.75 Acres
    Property subtype
    Mobile Home Park, Multifamily

    Building Details

    Year Built
    1962

    We can help!

    Listing Contact
    Dustin B. Wilmer
    Dustin B. Wilmer

    Listing agent Dustin B. Wilmer License #CA 01928162

    Listing office Marcus & Millichap - Downtown San Diego

    Listing date Nov 12, 2024

    Source Crexi

    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 Marcus & Millichap - Downtown San Diego

    HighLights

    • All‑age mobile home park with 30 sites in a high‑demand rental market
    • Significant vacancy upside with four vacant sites, three vacant homes, and one vacant SFR ready to be filled
    • Large lot sizes with private fenced yards, accommodating modern multi‑bedroom mobile homes
    • Two additional residential‑zoned parcels included in the sale, offering potential for residential development
    • Well‑maintained infrastructure with direct‑billed electricity and gas, and flat‑rate pass‑through for water, sewer, and trash
    • Established community with paved streets and one parking space per lot

    Overview

    Lassen Mobile Home Park is an all-age manufactured housing community with 30 sites in Susanville, located in Lassen County. The property consists of 28 mobile home sites and two single-family rentals on 7.75 acres. Constructed in 1962, the community features a low density of space per site, providing large yards and private fenced lots. The paved streets offer one parking space per lot in front of each home. Most lot sizes range from 80 to 90 feet in length and 30 to 40 feet in width, accommodating modern multi-bedroom mobile homes. There are two additional parcels zoned for residential included in the sale, totaling 2.55 acres. These parcels may be utilized for residential development, but additional mobile home expansion cannot be guaranteed. The park currently has four vacant sites, three vacant homes, and one vacant SFR. Site rents range from $500 to $650, and the SFR rent is $830. The park's infrastructure includes an on-site well for water, an on-site septic system for sewer, and direct-billed electricity provided by PG&E, with 8 sites sub-metered. Gas is direct-billed and provided by Ed's Propane. Trash services are provided by Lassen County.
    Property Profile Location Intelligence

    Current Use by Public Records

    Lassen Mobile Home ... Campground & RV Park

    Suggested Use

    Real Estate Agency Dental Office Building Supply Big Box & Wholesale Store Daycare Center HVAC Service Auto Parts Store Auto Repair Shop Electrical Service Car Rental Facility

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Susanville
    County
    Lassen
    State
    California
    Longitude
    -120.591269
    Latitude
    40.38346

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    FAQs

    What type of property is this?
    Mobile home & RV park - All-age mobile home park with 30 sites on 7.75 acres.
    Where is this mobile home & rv park located?
    The property is located at 704-550 Bangham Ln Susanville, CA.
    What is the asking price?
    The asking price for this property is $1,300,000.
    What are key features of this property?
    This property features: All‑age mobile home park with 30 sites in a high‑demand rental market; Significant vacancy upside with four vacant sites, three vacant homes, and one vacant SFR ready to be filled; Large lot sizes with private fenced yards, accommodating modern multi‑bedroom mobile homes
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Dustin B. Wilmer
    Dustin B. Wilmer
    Real Estate License ID: CA 01928162
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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