Updated Oct 29, 2024
Monte Christo Communities Acquires Mobile Home Park In Lakewood For $9.25M
20806 Gridley Rd Lakewood, CA 90715, USA
$9,250,000
$28/SF
Building Size
325,175 SF
Asset Type
Mobile Home
Closing
Jul 26, 2023
About this deal
AI
Monte Christo Communities has acquired the Mobile Home Park located at 20806 South Gridley Road in Lakewood. The property, known as Los Amigos MHP, was sold by Dr. Terry Tanaka with the assistance of Dustin B. Wilmer from Marcus & Millichap. The transaction was finalized on July 26, 2023, with an asking price and sale price of $9,250,000.
Summary of Transaction Details
- Property Type: Mobile Home Park
- Transaction Amount: $9,250,000
- Units: 72
- Price Per Unit: $128,472
- Square Footage: 325,175
- Price Per Square Foot: $28
The Mobile Home Park spans a total of 325,175 square feet. With a total of 72 units, the price per unit comes to approximately $128,472. The sale price per square foot is valued at $28.
Dustin B. Wilmer from Marcus & Millichap represented Dr. Terry Tanaka in the transaction. Monte Christo Communities successfully acquired Los Amigos MHP, marking their investment in the Lakewood market.
Los Angeles Mobile Home Market Snapshot
Boundary boundary · Mobile Home · Sale transactions
Loading comparables…
Deal FAQ
About $28 per square foot on a published $9.3M for 325,175 square feet (2023).
Visit Dustin B. Wilmer to view all their deals.
Browse Los Angeles mobile home sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.71%
Cash-on-Cash
-0.49%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93