2000 Paiute LnSusanville, CA 96130

Property Details for 2000 Paiute Ln

Construction

STEEL FRAME

Lot size

6.04 AC

Property type

Residential income properties

Property subtype

Mobile home & RV parks

APN

101-170-007-000

APU

101170007000

Description

This exceptional 52-unit RV park presents a compelling value-add investment opportunity in Susanville, California. Located at 2000 Paiute Ln, 96130, this Lassen County property sits on 6 acres and boasts an impressive 80% occupancy rate, with vacancies typically filled within 10 days. The park comprises 46 mobile home sites and 6 RV sites, supplemented by three park-owned rental units. Utilities are conveniently metered separately for gas and electric, while the park is serviced by city sewer and a reliable well. The property is zoned MHP (Mobile Home Park) and was built in 1970. While the park currently has vacant lots, the previous owner chose not to invest in purchasing used homes to fill them. Noteworthy improvements are needed, including road and street lighting upgrades. All problem tenants have been evicted within the last three years, and rent collection is consistently strong, with only one tenant currently not paying on time. The asking price is $2,175,000, and financing will need to be secured by the buyer; owner financing is not available. This property is held by an LLC and presents a strong potential for increased profitability through strategic improvements and management. The projected occupancy date for full capacity is October 10, 2024.

• CAP approach

  CAP return

  Valuation

  6%

  $65,105,084

  6.5%

  $60,097,000

  7%

  $55,804,356

• Comparable approach

  Method

  Valuation

  Relative Method

  $93,383,976

  Geo Method

  $93,383,976

• Alternative Use

  Use

  Valuation

  Residential

  $60,097,000

  Hospitality

  $55,048,528

  Educational

  $45,799,728

  Medical

  $47,374,852

  Retail

  $71,244,024

Location Insight

City

Susanville

County

Lassen

State

California

Latitude

40.4381

Longitude

-120.66

CBSA code

45000

CBSA name

SUSANVILLE, CA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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