251 Colorado River Rd, Blythe, CA 92225
60 Unit Mobile Home Park | For Sale | Blythe, CA 92225
For Sale
Active
- Property Type
-
Multifamily
- Square Feet
- 5,000 SF
Listing Contacts
Andrew Shih
Todd Fletcher
Property Overview
**MAJOR PRICE REDUCTION** - Contact Broker
Blythe Marina Estates is an all-age
60-site community on public utilities
with a strong economic occupancy of
85% and no park-owned homes (all
tenant owned once the remaining
vacant homes get sold).
– Opportunity to complete the buildout of the community
and add 67 expansion sites, bringing the total site count up
to 127 sites. The Owner is working with HCD to revise the
PTO to its original count of 127 spaces.
– The Owner has been able to bring in homes into the park
and sell them to residents. A total of 20 homes have been
brought in since 2015 and sold to residents within 4 months
after delivery. There are currently 4 vacant homes that the
Owner expects to sell in the next few months, which will
add another $28,000 in annual site rental revenue in Year 1.
– Value-add opportunity for a new owner to boost revenue by
filling the remaining vacant sites. Filling the current vacant
sites (5) would add nearly $38,000 in additional annual site
rental revenue for a new owner with minimal increases to
the expenses. There is also a storage area which can be
rented out.
– Another source of upside would be to raise lot rents up to
market. The community is not governed by rent control,
giving a new owner the opportunity to raise lot rents
annually without governmental restrictions. The current
Owner will increase the lot rent anywhere from $17.50 to
$50 in December 2024, which should add over $13,000 in
annual site rental revenue for the next Owner. This is not
included in our Proforma in the Financial Analysis section.
– Blythe Marina Estates should qualify for attractive debt
financing. Please contact Sam Rector for more details (see
page 6 for his contact information).
– The community features an attractive layout with off-street
parking and paved roads. The community also offers a
completely remodeled community clubhouse with full
kitchen, billiard table, refreshing swimming pool, whirlpool
spa, patio deck, picnic area and launching facilities directly
across the street at Quechan Marina. The community also
has storage for boats, RV, and motor homes.
Blythe Marina Estates is an all-age
60-site community on public utilities
with a strong economic occupancy of
85% and no park-owned homes (all
tenant owned once the remaining
vacant homes get sold).
– Opportunity to complete the buildout of the community
and add 67 expansion sites, bringing the total site count up
to 127 sites. The Owner is working with HCD to revise the
PTO to its original count of 127 spaces.
– The Owner has been able to bring in homes into the park
and sell them to residents. A total of 20 homes have been
brought in since 2015 and sold to residents within 4 months
after delivery. There are currently 4 vacant homes that the
Owner expects to sell in the next few months, which will
add another $28,000 in annual site rental revenue in Year 1.
– Value-add opportunity for a new owner to boost revenue by
filling the remaining vacant sites. Filling the current vacant
sites (5) would add nearly $38,000 in additional annual site
rental revenue for a new owner with minimal increases to
the expenses. There is also a storage area which can be
rented out.
– Another source of upside would be to raise lot rents up to
market. The community is not governed by rent control,
giving a new owner the opportunity to raise lot rents
annually without governmental restrictions. The current
Owner will increase the lot rent anywhere from $17.50 to
$50 in December 2024, which should add over $13,000 in
annual site rental revenue for the next Owner. This is not
included in our Proforma in the Financial Analysis section.
– Blythe Marina Estates should qualify for attractive debt
financing. Please contact Sam Rector for more details (see
page 6 for his contact information).
– The community features an attractive layout with off-street
parking and paved roads. The community also offers a
completely remodeled community clubhouse with full
kitchen, billiard table, refreshing swimming pool, whirlpool
spa, patio deck, picnic area and launching facilities directly
across the street at Quechan Marina. The community also
has storage for boats, RV, and motor homes.
Property Details
- Year Built
- 1972
- Stories
- 1
- Property Subtype
- Manufactured Housing/Mobile Home
- Lot Size (sq. ft)
- 527,947 SF
- Units
- 60
Nearby Properties
FAQ
- How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
- Please email our support team at [email protected] and they will add the team member.
- How do I access a private listing?
- Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
- How can I contact the broker
- We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
- What is the difference between Tier 1 & Tier 2 in the Due Diligence Vault?
- Documents that are placed in a Tier-1 Due Diligence vault require the execution of a Confidentiality Agreement (“CA”) for access. Documents and folders placed in the Tier-2 vault are intended to have an added layer of security and require the execution of a CA in addition to required Broker approval for access.
- How do I unsubscribe from emails?
- At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].