TRAVELER’S MOBILE HOME PARK & APARTMENTS...FLOOR PLANS Summary 10 RECENT INTERIOR APARTMENT...

TRAVELER’S MOBILE HOME PARK & APARTMENTS

3521 N STATE STREET, UKIAH, CA 95482


O F F I C E S N A T I O N W I D E A N D T H R O U G H O U T C A N A D A

WWW.MARCUSMILLICHAP.COM

3521 N STATE STREET, UKIAH, CA 95482

Activity ID: Z0020520

FINANCIAL

ANALYSIS

PRICING DETAIL

PRICING SUMMARY

Price $1,975,000

Cap Rate 5.42%

Number of Units 25

Price per Units $79,000

Net Operating Income $106,975

Lot Size 2.13 Acres

Occupancy 100%

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INCOME & EXPENSES

EXPENSES

Real Estate Taxes $22,890

Insurance $3,080

Management Fees $11,595

Rent Discount $6,600

Water $12,000

Sewer $24,000

PG&E $32,400

Garbage $4,800

Licenses, Permits, & Office $3,000

Reserves $4,850

Total Expenses $135,215

Net Operating Income $106,975

Total Return (%) 5.42%

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INCOME

Gross Rents (100% Occupied) $232,200

Utility Reimbursement $21,600

Gross Potential Income $253,800

Vacancy (5%) $11,610

Effective Gross Income $242,190

RENT ROLL SUMMARY

TRAVELER’S

UNIT BD/BA STATUS MONTHLY RENT UTILITY CHARGES

Mobile Home Spaces

Space 1 N/A Occupied $600 $100














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RENT ROLL SUMMARY

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CONT.

UNIT BD/BA STATUS MONTHLY RENT UTILITY CHARGES

Apartment Units

Unit 100 3/1 Occupied $1,350

Unit 101 2/1 Occupied $1,000

Unit 102 2/1 Occupied $950



Unit 105 2/1 Occupied $1,100 $100

Unit 106 2/1 Occupied $1,100 $100

Unit 107 2/1 Occupied $1,100 $100

Unit 108 2/1 Occupied $1,100 $100

Unit 109 2/1 Occupied $1,100 $100

Commercial Units

#1 Occupied $400

TOTALS 25 $19,350 $1,800

PHYSICAL OCCUPANCY 100%

SUMMARY

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PROPERTY DETAILS

The Offering

Property Address 3251 N State Street, Ukiah, CA 95482

Type of Park All Ages

Rental Agreement Month to Month

Unit Breakdown 14 Mobile Home Spaces, 10 Apartment Units

Rent Raise History $50-$100 in June 2018

Rent Control None

Assessors Parcel Number 169-120-16-00

Number of Units 25

Vacant Apartments 0

Vacant Spaces 0

Vacant Mobile Homes 0

Number of Occupied Park Owned

Homes0

Year Built N/A

Lot Size 2.13 Acres

Type of Ownership Fee Simple

Water/Sewer Both Serviced by the City

Parking Paved

Resident Off Street Parking Yes

Guest Parking Yes

Landscaping Mature

Mobile Home Spaces

Water Tenants Reimburse Landlord

Electric Paid By Tenant-Direct Billing

Gas Paid by Tenant-Direct Billing

Sewer Tenants Reimburse Landlord

Trash Included in the Rent

Apartment Units (6 of the 10 Units)

Water Included in the Rent

Electric Included in the Rent

Gas Included in the Rent

Sewer Included in the Rent

Trash Included in the Rent

Cable TV Paid By Tenant-Direct Billing

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INVESTMENT HIGHLIGHTS

California WINE COUNTRY Location

Management IN PLACE

Serviced by City Water & Sewer

Two Hour Drive from

SAN FRANCISCO

Ukiah is the County Seat and LARGEST CITY of Mendocino County, California

Stabil ized Property - 100% OCCUPIED

Many Recent Renovations and Capital Improvements

NON-RENT CONTROL Property

PARCEL MAP

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FLOOR PLANS

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RECENT INTERIOR APARTMENT RENOVATIONS

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PROPERTY PHOTOS

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13Key Traveler’s Mobile Home Park & Apartments

Lake Mendocino

Mendocino CollegeSan Francisco - 2 hours away

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REGIONAL MAP


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LOCAL MAP


SALES

COMPARABLES

CREST APARTMENTS & MOBILE HOME PARK

2200 S State Street, Ukiah, CA 95482

TRAVELER’S MOBILE HOME PARK & APTS

3251 N State Street, Ukiah, CA 95482

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Asking Price $1,975,000

No. of Units 25

Price/Units $79,000

Cap Rate 5.42%

SALE COMPARABLES

Sales Price $1,750,000

No. of Units 41

Price/Unit $42,623

Cap Rate 6.00%

Year Built N/A

Close of Escrow 05/02/2018

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2 MARLENE VILLAGE TOWNHOUSES

865 S Orchard Ave, Ukiah, CA 95482

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SALE COMPARABLES

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SIERRA SUNSET VILLA APARTMENTS

505 Capps Ln, Ukiah, California 95482


No. of Units 68

Price/Unit $108,824

Cap Rate 5.19%

Year Built 1985



No. of Spaces 94

Price/Space $167,188

Cap Rate 5.40%

Year Built 1996


4 2100 S DORA STREET APARTMENTS

2100 S Dora Street, Ukiah, CA 95482

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SALE COMPARABLES

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CANADIAN VILLAGE APARTMENTS

2280 S State Street, Ukiah, CA 95482

Sales Price $635,000

No. of Spaces 9

Price/Space $70,556

Cap Rate 5.90%

Year Built 1950


Sales Price $740,000

No. of Spaces 6

Price/Space $123,333

Cap Rate 5.68%

Year Built 1975


OPERATING STATEMENT

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Average Cap Rate

8.0

7.2

6.4

5.6

4.8

4.0

3.2

2.4

1.6

0.8

0.0

5.42

Key Sales Comparables Subject Property Sales Comps Avg

Avg. 5.63%

6.00

5.19

Traveler’s Crest Sierra Sunset Marlene Canadian Village S Dora St

Average Price Per Unit

$220,000

$200,000

$180,000

$160,000

$140,000

$120,000

$100,000

$80,000

$60,000

$40,000

$20,000

5.40

5.905.68

$79,000

$102,505

$42,623

$108,824

Travelor’s Crest Sierra Sunset Marlene Canadian Village S Dora St

$167,188

$70,556

$123,333

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CREST SIERRA SUNSET TRAVELER’S MOBILE HOME PARK & APARTMENTS

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MARLENE

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CANADIAN VILLAGE S DORA STREET

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APARTMENT

RENT

COMPARABLES

SIERRA SUNSET VILLAGE

505 Capps Ln, Ukiah, CA 95482

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RENT COMPARABLES

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UNIT TYPE UNITS SF RENT

0 Bdr 1 Bath 1 N/A $800

1 Bdr 1 Bath 1 N/A $850

2 Bdr 1 Bath 7 N/A $950-$1,100

3 Bdr 1 Bath 1 N/A $1,350

Total/Avg. 10 $1,045


1 Bdr 1 Bath 1 789 $775

2 Bdr 1 Bath 67 789 $953

Total/Avg. 68 789 $950



UKIAH GREEN

1164 Mulberry St, Ukiah, CA 95482

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RENT COMPARABLES

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THE VILLAS

175 Laws Ave, Ukiah, CA 95482

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2 Bdr 1.5 Bath 19 875 $1,225

Total/Avg. 19 875 $1,225


1 Bdr 1 Bath 23 621 $888

2 Bdr 1 Bath 10 787 $1,004

Total/Avg. 33 671 $923

ALDERWOOD APARTMENTS

1450 S State St, Ukiah, CA 95482

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RENT COMPARABLES

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MARLENE VILLAGE TOWNHOMES

865 S Orchard Ave, Ukiah, CA 95482

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2 Bdr 2 Bath 32 1,200 $1,585

Total/Avg. 32 1,200 $1,585


2 Bdr 1 Bath 31 800 $950

Total/Avg. 31 800 $950

MOBILE HOME

RENT

COMPARABLES

UKIAH MOBILE HOME & RV COMMUNITY


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RENT COMPARABLES

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# OF SPACES CURRENT LOT RENT

14 $600


62 $500



MANOR OAKS MHP

700 E Gobbi Street, Ukiah, CA 95482

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RENT COMPARABLES

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96 $531


136 $638

RANCHO DEL REY MHP

660 Leslie Street, Ukiah, CA 95482

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UKIAH MH & RV RANCHO DEL REY TRAVELER’S MOBILE HOME PARK & APARTMENTS

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MANOR OAKS

UKIAH

OVERVIEW

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DEMOGRAPHICS

In 2017, the population in your selected geography is 29,097. The

population has changed by 2.82% since 2000. It is estimated that

the population in your area will be 29,446 five years from now, which

represents a change of 1.20% from the current year. The current

population is 48.78% male and 51.22% female. The median age

of the population in your area is 38.2, compare this to the Entire

US average which is 37.8. The population density in your area is

369.99 people per square mile.

There are currently 10,771 households in your selected geography.

The number of households has changed by 3.17% since 2000. It

is estimated that the number of households in your area will be

11,023 five years from now, which represents a change of 2.34%

from the current year. The average household size in your area is

2.58 persons.

In 2017, the median household income for your selected geography

is $47,157, compare this to the entire US average which is currently

$56,286. The median household income for your area has changed

by 30.18% since 2000. It is estimated that the median household

income in your area will be $52,647 five years from now, which

represents a change of 11.64% from the current year.

The current year per capita income in your area is $24,270,

compare this to the Entire US average, which is $30,982. The

current year average household income in your area is $63,909,

compare this to the entire US average which is $81,217.

The current year racial makeup of your selected area is as follows:

67.89% White, 1.08% Black, 0.25% Native American and 3.66%

Asian/Pacific Islander. Compare these to entire US averages which

are: 70.42% White, 12.85% Black, 0.19% Native American and

5.53% Asian/Pacific Islander.

People of Hispanic origin are counted independently of race. People

of Hispanic origin make up 32.42% of the current year population

in your selected area. Compare this to the entire US average of

17.88%.

In 2000, there were 5,938 owner occupied housing units in your

area and there were 4,502 renter occupied housing units in your

area. The median rent at the time was $512.

In 2017, there are 16,011 employees in your selected area, this is also

known as the daytime population. The 2000 Census revealed that

55.98% of employees are employed in white-collar occupations in

this geography, and 43.79% are employed in blue-collar occupations.

In 2017, unemployment in this area is 5.63%. In 2000, the average

time traveled to work was 17.6 minutes.

POPULATION

INCOME

HOUSING

HOUSEHOLDS

RACE & ETHNICITY

EMPLOYMENT

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POPULATION EMPLOYMENTHOUSEHOLDS2017 HOUSEHOLDS

BY INCOME

2000 Population 28,298




2017 Daytime Population 35,8212000 Households 10,440

2010 Households 10,789



2017 Average HH Size 2.58

$0-$14,999 14.9%

$15,000-$24,999 12.8%

$25,000-$34,999 11.0%

$35,000-$49,999 14.2%

$50,000-$74,999 19.1%

$75,000-$99,999 11.4%

$100,000-$124,999 6.2%

$125,000-$149,999 4.5%

$150,000-$200,000 3.3%

$200,000 to $249,999 1.0%

$250,000+ 1.5%

DEMOGRAPHICS

2017 INCOME

Median HH Income $47,157

Per Capita Income $24,270

Average HH Income $63,909

TRAVELER’S MOBILE HOME PARK & APARTMENTS...FLOOR PLANS Summary 10 RECENT INTERIOR APARTMENT...

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