512-637-1219
251 S Colorado River Rd, Blythe, CA for Sale
Manufactured Housing/Mobile Housing - FOR SALE
1/36
null | Request Cap Rate

251 S Colorado River Rd
Blythe, CA 92225


OVERVIEW

**MAJOR PRICE REDUCTION** - Contact Broker Blythe Marina Estates is an all-age 60-site community on public utilities with a strong economic occupancy of 85% and no park-owned homes (all tenant owned once the remaining vacant homes get sold). – Opportunity to complete the buildout of the community and add 67 expansion sites, bringing the total site count up to 127 sites. The Owner is working with HCD to revise the PTO to its original count of 127 spaces. – The Owner has been able to bring in homes into the park and sell them to residents. A total of 20 homes have been brought in since 2015 and sold to residents within 4 months after delivery. There are currently 4 vacant homes that the Owner expects to sell in the next few months, which will add another $28,000 in annual site rental revenue in Year 1. – Value-add opportunity for a new owner to boost revenue by filling the remaining vacant sites. Filling the current vacant sites (5) would add nearly $38,000 in additional annual site rental revenue for a new owner with minimal increases to the expenses. There is also a storage area which can be rented out. – Another source of upside would be to raise lot rents up to market. The community is not governed by rent control, giving a new owner the opportunity to raise lot rents annually without governmental restrictions. The current Owner will increase the lot rent anywhere from $17.50 to $50 in December 2024, which should add over $13,000 in annual site rental revenue for the next Owner. This is not included in our Proforma in the Financial Analysis section. – Blythe Marina Estates should qualify for attractive debt financing. Please contact Sam Rector for more details (see page 6 for his contact information). – The community features an attractive layout with off-street parking and paved roads. The community also offers a completely remodeled community clubhouse with full kitchen, billiard table, refreshing swimming pool, whirlpool spa, patio deck, picnic area and launching facilities directly across the street at Quechan Marina. The community also has storage for boats, RV, and motor homes.

FOR SALE DETAILS

PRICE

Request Info for Price

# OF UNITS

60

CAP RATE

Request Cap Rate

% LEASED

85%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Blythe Marina Estates MHC

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Manufactured Housing/Mobile Housing

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1972

PARKING SPACES

-

LAND DETAILS

LAND ACRES

12.12 AC

LAND SF

527,947 SF

ZONING

MHP

APN/PARCEL ID

833-310-016

ASK ABOUT THIS PROPERTY

Andrew ShihARA NewmarkMore Info
512-637-1219

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Andrew ShihARA NewmarkMore Info
512-637-1219

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.