710 Harvard BlvdSanta Paula, CA 93060

Property Details for 710 Harvard Blvd

Lot size

5.03 AC

Zone code

RA

Property type

Residential income properties

Property subtype

Mobile home & RV parks

APN

102-0-191-305

APU

1020191305

Description

This exceptional 46-site RV park in Santa Paula, California presents a rare investment opportunity. Situated on 5.2 acres across two parcels (APN: 102-0-191-305, 102-0-191-225), this meticulously maintained Class B property boasts 100% occupancy (as of August 1, 2024) and a 5.11% cap rate. Built in 1964, the park features a mix of single-wide and double-wide units, all tenant-owned and exceptionally well-maintained. The park enjoys city water and sewer (sub-metered), with gas and electric direct-metered. Trash is included in the rent, currently averaging $454 per site. Conveniently located, the park is within walking distance of Vons and CVS, and a short drive to Ventura Beach and Blanchard Elementary School. Zoned Park Zoned MHP & Egress Zoned R2, this fee-simple property offers a stable income stream and significant upside potential. This is the first time this property has been on the market in over 40 years, reflecting the scarcity of such opportunities in Ventura County. The property's 226,512 square feet provides ample space for the 46 pads, resulting in a low density of 8.85 sites per acre. The asking price is $3,295,000, translating to $71,630.43 per pad. This is a truly unique opportunity to acquire a high-performing, well-located RV park in a desirable California market.

• CAP approach

  CAP return

  Valuation

  6%

  $81,543,736

  6.5%

  $75,271,144

  7%

  $69,894,632

• Comparable approach

  Method

  Valuation

  Relative Method

  $64,581,056

  Geo Method

  $64,581,056

• Alternative Use

  Use

  Valuation

  Residential

  $75,271,144

  Hospitality

  $68,947,960

  Educational

  $57,363,896

  Medical

  $59,336,728

  Retail

  $89,232,728

Location Insight

City

Santa Paula

County

Ventura

State

California

Latitude

34.3395

Longitude

-119.082

CBSA code

37100

CBSA name

OXNARD-THOUSAND OAKS-VENTURA, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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