5455 Old Highway 53Clearlake, CA 95422

Property Details for 5455 Old Highway 53

Year built

1950

Lot size

9.16 AC

Property size (Sq ft)

399,010 SF

Property type

Hospitality properties

Property subtype

Multifamily properties

Description

This exceptional 107-unit mobile home park, situated on 9.16 acres in Clearlake, CA, presents a compelling investment opportunity. Currently boasting 97% occupancy, the property generates a substantial income stream, further enhanced by a 6.78% cap rate. Built in 1950, the park features a mix of student housing and RV park capabilities, catering to a diverse tenant base. All utilities are tenant-paid, with trash and sewer passed through, while gas and water are direct-billed, and electricity is sub-metered. The property benefits from city water, sewer, and municipal services, ensuring efficient operations. Located on the shores of Lake Clearlake, near major freeways and public transit, this all-age community enjoys a highly desirable location. The property's strong management and consistent rental income make it an attractive asset for investors seeking a stable and profitable venture. The asking price is $6,500,000, translating to $60,747.66 per unit and $649,563 per acre. The total square footage is 399,010, with a price per square foot of $16.29. The property's address is 5455 Old Hwy 53, Clearlake, CA 95422, and its APN is 040-310-08-00, 040-310-09-00, 040-310-10-00. This is a Class B property with significant potential for future growth and returns.

Location Insight

City

Clearlake

County

Lake

State

California

Latitude

38.9444

Longitude

-122.632

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