Santa Fe Palms Mobile Home Park
Seller Financing Available | Public Utilities | In-Fill Opportunity
Marketing description
Santa Fe Palms MHP is a 27-site manufactured home community located in Borrego Springs, California within San Diego County's northeastern desert. The Property is offered at $1,350,000 and seller financing is offered for qualified buyers with 25% down payment, 5 year term, and 8% interest-only rate.
The Property consists of 27 HCD-permitted manufactured home sites, 12 of which are occupied. 10
of the occupied sites have stylish, tenant owned homes with “Santa Fe Style” design, paying average monthly space rent of $444. The other two occupied sites have park owned homes which are rented for $1,500 per month, less a $510 credit for the manager’s unit. The 15 vacant sites have utilities present and varying degrees of lot preparation, presenting an in-fill opportunity for the incoming owner. Evidencing demand in this location, there are two manufactured home parks located within 1,000 feet of Santa Fe Palms which are currently 99% and 94% occupied with average rents of $600 per month and $735 per month, respectively. The Property has a professional third-party off-site management company, with day-to-day support from a resident manager who lives in one of the park owned homes and receives a partial rent credit.
The Property is served by public water and sewer and electricity and gas are billed direct to the residents by SDG&E. Community amenities include a clubhouse and swimming pool, enhancing the Property's appeal to prospective residents.
Surrounded by Anza-Borrego Desert State Park, the largest state park in California, and recognized as the state's first International Dark Sky Community, Borrego Springs draws a steady flow of seasonal visitors and retirees from across Southern California and beyond. Santa Fe Palms is well positioned within Borrego Springs, situated directly on Palm Canyon Drive, the town's main street, residents enjoy walkable access to daily conveniences. Borrego Springs golf courses, desert hiking, wildflower seasons, and proximity to both San Diego County and the Inland Empire sustain consistent demand for quality, affordable housing.
Please do not visit, drive through, call, or disturb the property or its residents without prior approval from the listing broker.
Investment highlights
- Seller Financing - Attractive terms available for qualified buyers. 25% down payment, 5 year term, 8% interest only rate.
- Infill Opportunity - 15 vacant MH sites with utility connections available. Demand supported by adjacent parks at 90%+ occupancy and substantially higher rents.
- Public Utilities - Public water is submetered and billed back. Public sewer is billed back at a flat rate. Gas and electric are direct billed by SDG&E. Trash is collected by Ramona Disposal and billed back at flat rate.
- Tenant Owned Homes - The 10 occupied tenant owned home sites feature high-quality, stylish Santa Fe style homes on large lots.
- Attractive Location - Located in Borrego Springs' main corridor. The area draws visitors from all over for it's mild winters, award-winning golf courses, desert hiking, and more.
- Management - Currently managed by a third-party off-site management company with support from a resident manager.
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