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Storz Management Company Acquires Manufactured Housing In Sacramento For $11.2M

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SOLD
$11,200,000

California

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Manufactured Home422,967 SF
Sold 06/21/2024
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Property Image
SOLD

Storz Management Company Acquires Manufactured Housing In Sacramento For $11.2M

902 Del Paso Boulevard

See Similar Deals
Manufactured Home422,967 SF
Sold 06/21/2024
Contact now

Summary

CALIFORNIA
Asset Type:Manufactured Home
Price Per Square Foot:$26
Total Square Footage:422,967 SF
Transaction Type:Sale

The property at 902 Del Paso Boulevard in Sacramento, a Manufactured Housing asset, was involved in a recent transaction. The sale price for this property was $11,200,000. It comprises 143 units, with a price per unit of $78,322. The total area of the property is 422,967 square feet, with a price per square foot of $26 for the land.

Summary of transaction details:

  • Property Type: Manufactured Housing
  • Transaction Amount: $11,200,000
  • Units: 143
  • Price Per Unit: $78,322
  • Square Footage: 422,967
  • Price Per Square Foot: $26 (Land)
  • Address: 902 Del Paso Boulevard
  • Market: Sacramento

The transaction involved Storz Management Company as the buyer and Robert Slobe of North Sacramento Land Company as the seller. The brokers who facilitated the deal were William Blucher, Wills Vlasek, and Sean Mahoney from Newmark. This transaction underscores the collaborative effort of these key individuals and companies in completing the property sale.

Players

William Blucher
3 deals$64.7M volume
BROKER

Wills Vlasek
Newmark
2 deals$26.7M volume(916) 599-7533
BROKER

Sean Mahoney
Newmark
2 deals$17.7M volume(916) 569-2328
BROKER

Details

SOLD
IMAGE: William Blucher, Wills Vlasek & Sean Mahoney DATE: 06/21/2024 ADDRESS: 902 Del Paso Boulevard MARKET: Sacramento ASSET TYPE: Manufactured Housing BUYER: Storz Management Company SELLER: Robert Slobe - North Sacramento Land Company BROKERS: William Blucher, Wills Vlasek (@Wills_Vlasek) & Sean Mahoney - Newmark (@Newmark) SALE PRICE: $11,200,000 UNITS: 143 ~ PPU: $78,322 SF: 422,967 ~ PPSF: $26 (Land)

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$597,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$39,791.25
Cash-on-Cash Return-1.27%
Monthly Debt Service$53,093.71
Annual Debt Service$637,124.57