Updated Mobile Home
For Sale
$325,000
7209 San Luis St 169, Carlsbad, CA 92011
Two-bedroom coastal residence in a 55+ land lease community with open living areas and private outdoor space.
Property Size1,440 SF
Price / SF$225.69
Days on Market52
Property Features for 7209 San Luis St 169
General Information
Standard status
Active
Size
1,440 SF
Property subtype
ManufacturedInPark
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Amenities
clubhouse
pool
spa
fitness center
private storage shed
patio lounge
Listing Agency:
Define Real Estate
(619) 316-6562
Listed By:
Jessica Speciale · License #02082038
(619) 316-6562
Source:
Realtyrightchoice
Added: Jul 9
Changed: Aug 28
Last Checked: Aug 28 at 9:06PM
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 Define Real Estate
Investment Insights
Based on property information with market context.
This updated mobile home residence offers 1,440 square feet with two bedrooms, two bathrooms, and an open-concept interior. The home includes spacious living areas, walk-in closets, an oversized pantry, and a separate private storage shed. Outside, a maintained grassy area and patio provide additional usable space.
The residence is within Lakeshore Gardens, a 55+ community located approximately one mile from the beach. Community amenities include a clubhouse, pool, spa, fitness center, and maintained grounds, with coastal dining, shopping, and everyday services accessible nearby. The property is part of a land lease community and carries no property taxes.
The residence is within Lakeshore Gardens, a 55+ community located approximately one mile from the beach. Community amenities include a clubhouse, pool, spa, fitness center, and maintained grounds, with coastal dining, shopping, and everyday services accessible nearby. The property is part of a land lease community and carries no property taxes.
Key Highlights
- 1,440‑square‑foot mobile home with 2 bedrooms and 2 bathrooms
- Located in Lakeshore Gardens, a 55+ land lease community
- Open‑concept layout with spacious living areas
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
$28,590
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
8.80%
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%
$571,800
$571.8K
Cap Rate 7%
$408,429
$408.4K
Cap Rate 9%
$317,667
$317.7K
Market Conditions
NOI Build-Up for 1,440 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
$54.4K $37.80/SF
− Vacancy
−$2.4K −$1.70/SF
EGI
$52.0K $36.10/SF
− OpEx
−$23.4K −$16.24/SF
NOI
$28.6K $19.85/SF
Area
Carlsbad, CA
Vacancy
4.50%
Lease Rate
$37.80 /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%
$571,800
Cap Rate 7%
$408,429
Cap Rate 9%
$317,667
Alternative Uses
Best Use
Apartment 5plus
$408.4K
$357.4K – $476.5K
NOI $28,590 @ 7.0% cap · market cap 8.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$529.2K
$463.0K – $617.4K
NOI $37,043 @ 7.0% cap · market cap 11.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
532
Businesses Nearby
Explore this area
Business Placement
Demographics for 92011, CA
23,757
Population
10,159
Households
2.3
Avg Household Size
46
Median Age
67%
College-Educated
98%
High-School Grad
6.5 sq mi
ZIP Area
3,655
Density / Sq Mi
$154,985
Median Household Income
$84,788
Median Earnings
$3,138
Median Rent
$1,188,400
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 - Two-bedroom coastal residence in a 55+ land lease community with open living areas and private outdoor space.
Where is this mobile home & rv park located?
The property is located at 7209 San Luis St 169 Carlsbad, CA.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 1,440‑square‑foot mobile home with 2 bedrooms and 2 bathrooms; Located in Lakeshore Gardens, a 55+ land lease community; Open‑concept layout with spacious living areas
