112 Mccord Ave Bakersfield, CA 93308-4851

Property Details for 112 Mccord Ave

Year built

1955

Construction

WOOD

Lot size

0.69 lot acres

Property size

3,484 SF

Zone code

R2

Property type

Mobile home & RV parks

APN

114-230-28-00-9

APU

11423028009

Description

This exceptional investment opportunity presents a renovated 1.37-acre mobile home and RV park in Bakersfield, CA. The property, known as James Court MHP, boasts a total of 29 units, including 5 single-wide mobile home spaces, 17 RV lots with drains, and 6 apartment units, plus a 3-bedroom, 2-bathroom single-family home. The park features a newly installed mechanical entry gate, recently slurry-coated paved roads, and a remodeled laundry facility. All but one unit has direct gas metering, and electrical is sub-metered. The property benefits from city water and sewer services. Built in 1960 and extensively renovated in 2024, the park currently enjoys 79% occupancy. The existing NOI is $118,567, with a 7.41% cap rate. However, significant upside potential exists, with 6 vacant spaces offering an additional $3,850 in potential monthly rent, leading to a pro-forma cap rate of 10.3%. Three apartment units are currently leased at 50% of market rate, presenting further rental income growth. The majority of mobile homes and RVs are tenant-owned, simplifying management. The property is self-managed with an on-site manager. The location is advantageous, near major employers, amenities, and the airport, contributing to strong rental demand. The asking price is $1,600,000, representing a price per square foot of $26.81 for the 59,677 square feet of land. This property offers a compelling blend of immediate cash flow and substantial future growth potential. The property is marketed as a 55+ community, but there are no age restrictions.

Location Insight

City

Bakersfield

County

Kern

State

California

Longitude

-119.022

Latitude

35.4073

CBSA code

12540

CBSA name

BAKERSFIELD, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments