Property Detail

Description

Acres of Paradise is a 58-site, 15.2-acre all age manufactured home community development opportunity, located in Paradise, Butte County, CA, and offered at $1,050,000 with seller financing. The Property has an active permit to operate and is HCD-permitted for 53 manufactured home sites and 5 RV sites with drain, providing for a predominantly long-term community with the RV component offering income diversification. Substantial engineering, design, and utility work has already been completed, reducing a new owner's timeline to accepting residents. The Property is offered with attractive seller financing terms of 25% down payment and 6.00% interest only rate over a five-year term with no prepayment penalty. This structure is intended to provide runway for the buyer to obtain final approvals, develop sites, remaining infrastructure, and in-fill the community. Comparable manufactured home communities in Paradise command space rents averaging $582 per month and are achieving average occupancy of 88%, supporting the income potential of the completed community. The offering price of $1,050,000 for Acres of Paradise MHP equates to $18,103 per site and $69,079 per acre. Comparable manufactured home community development opportunities in Paradise, CA with gas and electric installed have traded for an average of $21,589 per site and $152,917 per acre. The current owner has completed all debris removal work and has engineered the unit layout, fire hydrant installation, grading, communication utility infrastructure, retaining wall, storm drain, erosion control, tree planting, and irrig