Senior Manufactured Home in
For Sale
$499,000
819-819 Villa Teresa Way, San Jose, CA 95123
2015 Skyline manufactured home with three bedrooms, dual bathrooms, central AC, and carport parking in an active senior community.
Property Size1,423 SF
Price / SF$350.67
Days on Market67
Property Features for 819-819 Villa Teresa Way
General Information
Standard status
Active
Size
1,423 SF
Total Parking Spaces
2
Property subtype
Manufactured In Park
Amenities
walk-in closet
double sinks
bidet
solid surface
walk-in shower
tub/shower
skylight
built-in gas oven range
is
Building Details
Year Built
2015
Listing Agency:
Corcoran Icon Properties
(408) 997-9999
Listed By:
Roberta Peri · License #1276745
(408) 772-3990
Source:
Exprealty
Added: Jul 2
Changed: Aug 23
Last Checked: Sep 6 at 3:43PM
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 Corcoran Icon Properties
Investment Insights
Based on property information with market context.
Located in San Jose, this 2015 Skyline manufactured home offers three bedrooms, including a walk-in closet, and two full bathrooms with double sinks, bidet, and a walk-in shower design. The guest bathroom includes a tub/shower setup and an energy-efficient skylight. The kitchen features a built-in gas oven range, island, pantry cabinets, dishwasher, garbage disposal, and a hood over the range. Additional interior highlights include 9-foot ceilings with crown molding, ceiling fans, 5-inch baseboards, laminate flooring, dual-pane windows, and a skylight. A washer/dryer is included, and a 40-gallon water heater upgrade was completed in 2023.
Outdoor features include a carport with at least two parking spaces, a large shed for storage, and low-maintenance landscaping with an auto irrigation system plus an artificial grass side-yard option. The Villa Teresa MHP is an active, friendly senior community with 146 homes, including a heated pool and spa, bocce ball, a dog park, a community vegetable garden, and a clubhouse with billiards and pool tables.
Space rent is stated as $1,257 per month and includes San Jose City Rent Control protection.
Outdoor features include a carport with at least two parking spaces, a large shed for storage, and low-maintenance landscaping with an auto irrigation system plus an artificial grass side-yard option. The Villa Teresa MHP is an active, friendly senior community with 146 homes, including a heated pool and spa, bocce ball, a dog park, a community vegetable garden, and a clubhouse with billiards and pool tables.
Space rent is stated as $1,257 per month and includes San Jose City Rent Control protection.
Key Highlights
- 2015 Skyline manufactured home in an active senior community with 3 bedrooms and 2 full bathrooms
- 2 full bathrooms feature double sinks and bidet; guest bath has tub/shower plus energy‑efficient skylight
- Kitchen includes built‑in gas oven range, island, pantry cabinets, dishwasher, garbage disposal, refrigerator, and hood over range
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
$29,288
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
5.87%
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%
$585,760
$585.8K
Cap Rate 7%
$418,400
$418.4K
Cap Rate 9%
$325,422
$325.4K
Market Conditions
NOI Build-Up for 1,423 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
$56.4K $39.60/SF
− Vacancy
−$3.1K −$2.18/SF
EGI
$53.3K $37.42/SF
− OpEx
−$24.0K −$16.84/SF
NOI
$29.3K $20.58/SF
Area
ZIP 95123
Vacancy
5.50%
Lease Rate
$39.60 /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%
$585,760
Cap Rate 7%
$418,400
Cap Rate 9%
$325,422
Alternative Uses
Best Use
Apartment 5plus
$418.4K
$366.1K – $488.1K
NOI $29,288 @ 7.0% cap · market cap 5.87%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$453.2K
$396.5K – $528.7K
NOI $31,722 @ 7.0% cap · market cap 6.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,170
Businesses Nearby
Explore this area
Business Placement
Demographics for 95123, CA
70,040
Population
25,023
Households
2.8
Avg Household Size
38
Median Age
45%
College-Educated
91%
High-School Grad
7.8 sq mi
ZIP Area
8,979
Density / Sq Mi
$136,364
Median Household Income
$64,536
Median Earnings
$2,953
Median Rent
$1,108,100
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 - 2015 Skyline manufactured home with three bedrooms, dual bathrooms, central AC, and carport parking in an active senior community.
Where is this mobile home & rv park located?
The property is located at 819-819 Villa Teresa Way San Jose, CA.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 2015 Skyline manufactured home in an active senior community with 3 bedrooms and 2 full bathrooms; 2 full bathrooms feature double sinks and bidet; guest bath has tub/shower plus energy‑efficient skylight; Kitchen includes built‑in gas oven range, island, pantry cabinets, dishwasher, garbage disposal, refrigerator, and hood over range
