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5471 S Libby Road

Paradise, CA 95969
  • $1,200,000
  • STATUS: Active
  • ON SITE: 63 Days
  • ID#: SN23224360
Price Reduced
UPDATED: 9 min ago
$1,200,000
  • 0
    BEDS
  • 6.29
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Vacant Land / Lots
County:

School Ratings & Info

Listing Agent(s): Dustin Cheatham of Upside Real Estate (530-298-8205)


Description

Prime Improved Land! This may be the opportunity you are looking for to create impressive income. This age-restricted 55+ property is centrally located and close to Shopping, Restaurants, Schools, fire, and police. Improved with a proposed 54 mobile home spaces, 47 of which have separate meters for gas, electricity. Space dimensions accommodate a mix of triple-wide, double, and single-wide manufactured homes and mobile homes. The current market would support $650 monthly space rent for $421,200 annual gross income, pro forma cap rate 28%. The Town of Paradise zoning TR-1 allows for permitted use as a mobile home park, group home, or elderly community care facilities. The subject is situated within the confines of two contiguous Assessors parcels located west of S. Libby Road, south of Newland Road, within the town of Paradise, California. Access via a long paved driveway from S. Libby Rd gives the feeling of seclusion and privacy. A communal space is central to the park where a common multi-use building could be re-built next to the USPS mailbox cluster. The park has six septic tanks. Trenching for septic and public water to each space will be the responsibility of the new owner, has not been investigated by the listing brokerage or Seller. Water is available at the street, Paradise Irrigation District. Before the Camp Fire in 2018, the park was a Conventional Septic sytstem 6 tanks thriving community known as Holly Hills Senior Mobile Home Park. An appraisal done by Nelson M. Wong, MAI for a national bank in July 2017 valued the park at $2.55M with a 91% vacancy at the time. The present utility infrastructure was rebuilt at no cost to the owner. APNs: 054181-011 and 054-81-026 for a combined 6.29 acres. Flood insurance is not required. California earthquake Zone 3 (very low risk). Lower Paradise, which means little chance of snow. No apparent adverse easements, encroachments or other conditions currently impacting the subject.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2024-03-01T23:30:51.287. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Go Gabby | RE/MAX Estate Properties. Licensed in the State of California, USA.
www.gogabby.com/homes/146267374
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5471 S Libby Road Paradise, CA 95969

  • Price: $1,200,000
  • Status: Active
  • On Site: 63 Days
  • Updated: 9 min ago
  • ID#: SN23224360
0
Beds
0
Baths
0
½ Baths
6.29
Acres
County:
Butte
Property Description
Prime Improved Land! This may be the opportunity you are looking for to create impressive income. This age-restricted 55+ property is centrally located and close to Shopping, Restaurants, Schools, fire, and police. Improved with a proposed 54 mobile home spaces, 47 of which have separate meters for gas, electricity. Space dimensions accommodate a mix of triple-wide, double, and single-wide manufactured homes and mobile homes. The current market would support $650 monthly space rent for $421,200 annual gross income, pro forma cap rate 28%. The Town of Paradise zoning TR-1 allows for permitted use as a mobile home park, group home, or elderly community care facilities. The subject is situated within the confines of two contiguous Assessors parcels located west of S. Libby Road, south of Newland Road, within the town of Paradise, California. Access via a long paved driveway from S. Libby Rd gives the feeling of seclusion and privacy. A communal space is central to the park where a common multi-use building could be re-built next to the USPS mailbox cluster. The park has six septic tanks. Trenching for septic and public water to each space will be the responsibility of the new owner, has not been investigated by the listing brokerage or Seller. Water is available at the street, Paradise Irrigation District. Before the Camp Fire in 2018, the park was a Conventional Septic sytstem 6 tanks thriving community known as Holly Hills Senior Mobile Home Park. An appraisal done by Nelson M. Wong, MAI for a national bank in July 2017 valued the park at $2.55M with a 91% vacancy at the time. The present utility infrastructure was rebuilt at no cost to the owner. APNs: 054181-011 and 054-81-026 for a combined 6.29 acres. Flood insurance is not required. California earthquake Zone 3 (very low risk). Lower Paradise, which means little chance of snow. No apparent adverse easements, encroachments or other conditions currently impacting the subject.
Exterior Features

Lot Features Gentle SlopingValue In Land Road Frontage Type City Street Road Surface Type Paved Sign On Property YN Yes View Mountain(s)Trees/Woods View YN Yes

Property Features

Additional Parcels YN Yes Association Fee 0 Association YN No Common Interest None Community Features Near National Forest Disclosures Manufactured Homes Allowed Electric Electricity - On Property Land Lease YN No Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash to New LoanOwner Will CarryOwner May Carry New Construction YN No Senior Community YN Yes Sewer Septic Tank Special Listing Conditions Standard Utilities Electricity ConnectedNatural Gas ConnectedSewer Not AvailableWater Available Water Source Public Zoning RT1



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-03-01T23:30:51.287. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Go Gabby | RE/MAX Estate Properties. Licensed in the State of California, USA.
 
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Go Gabby | RE/MAX Estate Properties
1901 S Catalina Ave.
Redondo Beach CA, 90277
Listing Agent(s): Dustin Cheatham of Upside Real Estate (530-298-8205)