$2,285,000

815 S Indiana St, Porterville, CA 93257

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28 bd · 28.0 ba · 139,513 sqft · $16/sqft · 3.20 acres

Residential Income · Multi Family · Built 1975 · 38 days on Properkey

Description

Wagon West Mobile Home Park is a 28 space all ages manufactured housing community on 3.22 acres at 815-849 S. Indiana Street in Porterville. The park consists of manufactured housing sites, RV sites, and three single family residences, all with full hook-ups. The community is served by City of Porterville water, a private septic system, and an on-site laundry facility. Utilities are billed back to tenants through a RUBS structure, providing the owner with meaningful expense recovery. Tenant tenure is exceptionally long, with the majority of residents in place between 7 and 20 plus years and minimal turnover in recent years. Rents remain below market and Porterville has no rent control, giving a new owner a clear path to grow income through modest scheduled adjustments and lease up of the remaining vacant spaces. The park is centrally located with quick access to Highways 65 and 190 and sits within close proximity to the Walmart Distribution Center, Porterville College, two general hospitals, and the retail corridor along Main Street including Home Depot, Lowe's, Grocery Outlet, ALDI, and Starbucks. Manufactured housing remains one of the few forms of unsubsidized affordable housing in the Central Valley, and parks of this size rarely come to market.

Agent & source

Listed by
Jin Kim
Brokerage
The JKRE Investment Group
DRE
#01456017
MLS # 655001 Source FRESNO

Property details

Rooms & Layout

Levels
One
Bedrooms
28
Bathrooms
28.0 (28 full)

Property Features

Lot features
Suburban
Community
Utility Room

Building & Construction

Construction Materials
Other
Roof
Other
Foundation
Concrete Perimeter, Wood Subfloor

Exterior & Parking

Parking
Open parking, Covered, Open

Interior & Comfort

Heating
Floor or Wall Heat
Cooling
Evaporative Cooling, Wall/Window Unit(s)
Fireplace
One Unit

Appliances & Equipment

Washer/Dryer(s) Leased

Utilities

Water Source
Public
Sewer
Septic Tank
Electric
On
Public Utilities, Natural Gas Connected

Nearby

Active Pending Closed Rental
High
Porterville Schools District

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