463-405 MOUNTAIN WAY Janesville CA 96114

Oakhaven Mobile Home Park is an all-age mobile home park located in Janesville, California. The community consists of eleven (11) MH/RV sites occupied by a mix of single wide mobile homes, RVs, and travel trailers, and one (1) site-built block wall 400 SF studio apartment/office. The park sits on 6.27 acres that yield a density of 1.91 spaces per acre on the 12 sites. The property was designed and stubbed in for a total of 21 sites. The septic system has a 6,000-gallon capacity which should accommodate an additional 9-site expansion. There are no current permits or entitlements for this expansion. The seller will provide the original Conditional Use Permit for 21 spaces to determine the exact nature of the entitlements on file with the County. The owner has recently installed a new well which should also accommodate the additional 9-site expansion and has made other significant park & home improvements which are summarized on pages 7 & 8.

Oakhaven Mobile Home Park is serviced by a well and 6,000-gallon septic system and leach field. There was a new 8 x 12 park shed/pumphouse added in 2020 along with French drains and one in 2022 for the new well. Water, sewer, and trash are included in the rent. All units are serviced by individual propane tanks and the residents are submetered for electricity and billed for usage by the Seller. The park is set up for 400-amp electricity and is serviced by Lassen Municipal Utility District. There is a coinoperated washer and dryer housed in the single apartment which are included in the sale. There are nine (9) 8x8 - 10x12 storage sheds of which eight are less than four years old that are included in the sales price. Two (2) of the sheds are for the pump houses, one (1) is included with the park-owned office/apartment, and six (6) are at MH/RV sites. The MH/RV sites with sheds are in high demand and generate a higher lot rent. There is also a 2016 riding lawn tractor, chainsaw, and utility trailer used in the operation of the park and included in the price.

The park is currently 92% occupied and has a history of 95% occupancy. There are currently eight (8) sites occupied by RVs, two (2) sites occupied by tenant-owned mobile homes, one (1) site occupied by a park-owned mobile home, and one (1) site occupied by a park-owned office/apartment. The brick office/apartment is currently being remodeled and will be finished prior to the close of escrow and rented for at least $625. The is one (1) park-owned home on space K. The lot rent at the park is $345 for a space with no shed, $385 for a space with a new shed, and $370 for a space with an older shed. The home on space K is a 1450 sq ft 1975 Sahara which was remodeled in 2015 & 2022 is currently owner-occupied but has historically rent for $1,200 and should rent for $1,400-$1,500. The POH on space K includes a shed, greenhouse, and an acre of fenced land. This home is included in the sales price free and clear of debt. The tenant living in space G keeps an eye on the park and receives a $ 100-month rent credit.

Janesville is an unincorporated community in Lassen County, California. It is located 11 miles southeast of Susanville at an elevation of 4239 feet. Janesville is located on the eastern slopes of the Sierra Nevada Mountain range.

The mountain setting is beautiful with abundant pines and oaks. The park is close to many recreation amenities. The park is approximately 1.5 hours northwest of Reno and celebrates all four seasons. This property can be both an investment and a second home opportunity for the right buyer. The ability to expand the park could include the addition of a single-family vacation home provided the zoning allows for more than the 11 existing sites. This information is being gathered from the County Planning Department and will be available upon receipt. The seller has the original plans and development documentation from 1962.

Oakhaven Mobile Home Park is priced at a 6.75% CAP rate at $50,000 per site without consideration of the additional acreage and development/expansion potential. The property is offered on an all-cash basis; however, the seller will finance the deal for a qualified buyer with 50% down, 5.5% interest, amortized, and due in 20 years.

• Ability to Add 9 Sites

• POH Remodeled in 2022

• Significant Improvements Made in 2022 including New Well and Pumphouse

• Well & Septic Served | Sub-Metered Electric

• 6.27 Acres | Beautiful Mountain Setting

• 11 Miles Southeast of Susanville, CA

• Office/Apartment Currently Being Remodeled

• New Pumphouse and French Drains Installed in 2020