$650,000
$720,000
9.7%For more information regarding the value of a property, please contact us for a free consultation.
1939 -1941 West Ramsey Banning, CA 92220
1.23 Acres Lot
Key Details
Sold Price $650,000
Property Type Commercial
Sub Type Mobile Home
Listing Status Sold
Purchase Type For Sale
MLS Listing ID CC337055
Sold Date 01/16/15
HOA Y/N No
Year Built 1955
Lot Size 1.230 Acres
Property Description
THE SUBJECT PROPERTY IS 100% OCCUPIED AND CURRENTLY PROVIDES AN 11.5% CASH ON CASH RETURN AND IS AN ACTUAL 8.46 CAP RATE. The property consists of one, 1,385 square foot retail building that has two retail tenants with leases expiring in 2016 and 2025. There is also one, three-bedroom/two-bathroom house with a two car garage and fireplace; one, two-bedroom/two- bathroom house and 10 mobile home park spaces. There are no park owned homes and 90 percent of the residents have been at the park for over four years. PLEASE CALL OR EMAIL FOR AN OFFERING MEMORANDUM.
Location
State CA
County Riverside
Area 263 - Banning/Beaumont/Cherry Valley
Interior
Fireplace No
Building
Story 1
Architectural Style Mobile Home
Others
Tax ID 538150012
Financing Cash
Special Listing Condition Standard
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Bought with DOUGLAS MCCAULEY • MARCUS & MILLICHAP