3922 Pentz RdParadise, CA 95969

Property Details for 3922 Pentz Rd

Lot size

5.50 AC

Zone code

FR-40

Property type

Residential income properties

Property subtype

Mobile home & RV parks

APN

041-460-019-000

APU

41460019000

Description

This established 22-space RV park in Paradise, CA presents a compelling investment opportunity. Located on a 5.5-acre lot (APN: 041-460-019-000), the property boasts a 90% occupancy rate, generating a current NOI of $102,205 and a 7.89% cap rate. Pro forma NOI is projected at $199,050, representing a 15.37% cap rate. Built in 1979 with renovations completed in 2024, the park features 22 pads, each equipped with new submetered electricity pedestals and two hose bibs. Amenities include two bathrooms, a coin-operated laundry facility, and a propane tank. The park is serviced by public water, trash service, and PG&E electricity. Two RVs are included in the sale. The property is zoned Commercial - Mobilehome Park and benefits from long-term tenants and rent bumps. A significant advantage is a permit already secured for expanding the park by 15 additional spaces, accompanied by comprehensive engineered plans (cost exceeding $100,000). This expansion opportunity, coupled with the park's proximity to Lake Oroville, Chico, and Butte College, ensures strong rental demand. The park's well-maintained grounds and recent infrastructure upgrades, including new underground water and electricity, contribute to its high performance and appeal. The asking price is $1,295,000 ($58,863.64 per pad). This represents a rare chance to acquire a high-performing asset with significant growth potential.

• CAP approach

  CAP return

  Valuation

  6%

  $53,540,244

  6.5%

  $49,421,764

  7%

  $45,891,636

• Comparable approach

  Method

  Valuation

  Relative Method

  $53,021,212

  Geo Method

  $53,021,212

• Alternative Use

  Use

  Valuation

  Residential

  $49,421,764

  Hospitality

  $45,270,068

  Educational

  $37,664,168

  Medical

  $38,959,496

  Retail

  $58,588,704

Location Insight

City

Paradise

County

Butte

State

California

Latitude

39.6932

Longitude

-121.573

CBSA code

17020

CBSA name

CHICO, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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