704-550 Bangham LnSusanville, CA 96130

Property Details for 704-550 Bangham Ln

Year built

1950

Construction

WOOD

Lot size

5.19 AC

Property size (Sq ft)

2,238 SF

Property type

Residential income properties

Property subtype

Mobile home & RV parks

APN

116-130-010-000

APU

116130010000

Description

This fee-simple, 7.75-acre mobile home park in Susanville, CA, presents a compelling value-add investment opportunity. The property features 30 sites, including 28 mobile home sites and two single-family rentals, offering a current NOI of $118,623 and a 9.12% cap rate. Built in 1962, the park boasts paved roads, large lots (80-90 feet long by 30-40 feet wide), and fenced yards. Site rents range from $500 to $650, with single-family rental income at $830. The park has an on-site well and septic system, with electricity provided by PG&E (8 sites sub-metered) and gas by Ed's Propane (direct billed for most). Trash service is provided by Lassen County. Currently, there are four vacant sites and three vacant homes, presenting immediate upside potential in a high-demand rental market. The property also includes two additional 2.55-acre parcels zoned for residential use, offering further development possibilities. The asking price is $1,300,000, with a price per pad of $43,333.33. The property's current occupancy is 73%, projected to reach full occupancy by November 12, 2024. There are no local rent stabilization ordinances. This well-maintained, all-age community offers a stable return with significant upside potential. Note that buyers are responsible for conducting their own due diligence regarding potential development on the additional acreage.

• CAP approach

  CAP return

  Valuation

  6%

  $553,797

  6.5%

  $511,198

  7%

  $474,683

• Comparable approach

  Method

  Valuation

  Relative Method

  $794,343

  Geo Method

  $794,343

• Alternative Use

  Use

  Valuation

  Residential

  $511,198

  Hospitality

  $468,254

  Educational

  $389,582

  Medical

  $402,980

  Retail

  $606,016

Location Insight

City

Susanville

County

Lassen

State

California

Latitude

40.3834

Longitude

-120.591

CBSA code

45000

CBSA name

SUSANVILLE, CA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].