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18842 Cachagua RD Carmel Valley, CA 93924
11.29 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID ML82041267
HOA Y/N No
Year Built 1958
Annual Tax Amount $60,000
Lot Size 11.286 Acres
Property Description
Excellent opportunity to own this carmel river front 46 unit mobile home park(state permit allows for 4 more units) with 5 additional homes on site and 1 Fire Station. 52 total units. Potential for 56. State permit for park allows for 50 mobile homes/RV's and currently the park has 46 mobile homes/rv's. There are 4 cabins all fully rented and a vacant Bar/Tavern with plans to convert to an ADU which should rent for an additional $2700 per month. Bar/Tavern exterior in great shape. Fire station is on a long term lease and is operated by Cachagua Fire Department. The park features a gated entrance, paved asphalt roads throughout park, security cameras, laundry room with 2 new washers and 2 new dryers, vending machine room(no vending machine included), solar lighting, a 40,000 gallon water storage facility and well with brand new well pump, well motor and new backup generator, 4 storage buildings, riverfront beach, volleyball court and BBQ area. Rent is due to be increased now by the new buyer. Priced at a 7.1% Cap Rate at current rents! This is truly a remarkable investment property with plenty of value add opportunities remaining to get to an 8%+ Cap!
Location
State CA
County Monterey
Area 699 - Not Defined
Zoning MDR/5
Interior
Heating Central, Electric, Fireplace(s), Propane
Cooling Central Air
Fireplace No
Exterior
Roof Type Other
Total Parking Spaces 80
Building
Lot Description Level
Water Well
Schools
School District Carmel Unified
Others
Tax ID 418261046000
Special Listing Condition Standard
Listed by Sean Griffin Agency One Real Estate #01466508
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