Updated Sep 5, 2024
Marcus & Millichap Sells Shady Lane Mobile Home & RV Park In El Cajon For $4.4M
244 Shady Lane
$4,400,000
Building Size
—
Asset Type
Mobile Home
Closing
Sep 13, 2023
About this deal
AI
The Shady Lane Mobile Home & RV Park in El Cajon has been sold for $4.4 million. The property, located at 244 Shady Lane, spans over 1.65 acres. This mobile home park, owned by the Watkins family since 1981, was recently sold by Marcus & Millichap, a well-known brokerage firm in the real estate industry.
Summary of transaction details
- Property Type: Mobile Home
- Transaction Amount: $4,400,000
- Address: 244 Shady Lane
- Market: El Cajon
- Broker: Dustin Wilmer - Marcus & Millichap
Dustin Wilmer from Marcus & Millichap played a crucial role as the broker in this transaction. The sale of the Shady Lane Mobile Home & RV Park marks a significant milestone for the Watkins family who had owned the property for over four decades. It is worth noting that the property was not advertised for sale prior to this transaction.
El Cajon Mobile Home Market Snapshot
Boundary boundary · Mobile Home · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.61%
Cash-on-Cash
-1.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93