106 Mccord Ave Bakersfield, CA 93308-4960

This exceptional investment opportunity presents a 22-space mobile home park ideally situated in Bakersfield, California's Oildale area, a designated Federal Opportunity Zone. Currently boasting 86% occupancy, the park generates a strong NOI of $68,640, representing a 7.84% cap rate. A pro-forma analysis projects a 10.10% cap rate with an NOI of $88,360 at full occupancy. The property sits on a 0.46-acre lot and includes a laundry room, ample guest parking, and a secure chain-link fence. Fifteen of the 22 spaces are park-owned and will convey with the sale, representing an estimated $180,000 value. Recent significant upgrades have been completed to the park's electrical, water, and sewer lines, as well as to the park-owned homes to ensure they are rent-ready. The asking price is $875,000, translating to $39,772.73 per pad. Conveniently located near major retailers such as McDonald's, Jack in the Box, Sonic, and Starbucks, this property offers a compelling combination of strong current performance and significant upside potential. The property is part of a two-park portfolio, with the possibility of acquiring an adjacent 20-space park. Seller financing may be considered. The property's APN is 114-230-24-00-7. Built in 1949, this Class C stabilized investment is offered as an LLC.