6280 Pentz Road

Acres of Paradise is a 58-site, 15.2-acre all age manufactured home community development opportunity, located in Paradise, Butte County, CA, and offered at $1,050,000 with seller financing. The Property has an active permit to operate and is HCD-permitted for 53 manufactured home sites and 5 RV sites with drain, providing for a predominantly long-term community with the RV component offering income diversification. Substantial engineering, design, and utility work has already been completed, reducing a new owner's timeline to accepting residents. The Property is offered with attractive seller financing terms of 25% down payment and 6.00% interest only rate over a five-year term with no prepayment penalty. This structure is intended to provide runway for the buyer to obtain final approvals, develop sites, remaining infrastructure, and in-fill the community. Comparable manufactured home communities in Paradise command space rents averaging $582 per month and are achieving average occupancy of 88%, supporting the income potential of the completed community. The offering price of $1,050,000 for Acres of Paradise MHP equates to $18,103 per site and $69,079 per acre. Comparable manufactured home community development opportunities in Paradise, CA with gas and electric installed have traded for an average of $21,589 per site and $152,917 per acre. The current owner has completed all debris removal work and has engineered the unit layout, fire hydrant installation, grading, communication utility infrastructure, retaining wall, storm drain, erosion control, tree planting, and irrigation improvements, which are ready to submit for HCD approval. Following the 2018 Camp Fire, Paradise has experienced steady population recovery and rebuilding, while the high cost and measured pace of new single-family construction drives demand toward manufactured housing. The community sits within 7 min of retail and services in Paradise, 27 min of Chico, and 1 hour 40 min of Sacramento, with large commuter and retiree resident bases supporting long-term occupancy stability. Acres of Paradise offers a rare combination of entitled, utility-ready development and built-in seller financing! Please do not visit, drive through, call, or disturb the property or its residents without prior approval from the listing broker.

Property Details

Location

Legal

The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. as of the most recent time synced and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

Provided By
Listed by Tim Ryan (#OCRYANTIM)
Listing Office: Avine Real Estate (#OC21149)