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KW COMMERCIAL
2520 Mission College Blvd.
Santa Clara, CA 95054MAUREEN CALDWELL-MEURER, KW SILICON CITYCommercial Realtor/Analyst0 510.915.0092C [email protected] DRE# #01908929 - CA DRE# #KW Silicon City 01996355
Clearlake Marina And 55+ Manufactured Home Park
OFFERING MEMORANDUM
PRESENTED BY:
1400 SOUTH MAIN, LAKEPORT, CA
OFFERING MEMORANDUM
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KW COMMERCIAL
2520 Mission College Blvd.
Santa Clara, CA 95054
Confidentiality & Disclaimer
MAUREEN CALDWELL-MEURER, KW SILICON CITYCommercial Realtor/Analyst0 510.915.0092C [email protected] DRE# #01908929 - CA DRE# #KW Silicon City 01996355
All materials and information received or derived from KW Commercial its directors, officers, agents, advisors, affiliates and/or any third party sourcesare provided without representation or warranty as to completeness , veracity, or accuracy, condition of the property, compliance or lack of compliancewith applicable governmental requirements, developability or suitability, financial performance of the property, projected financial performance of theproperty for any party’s intended use or any and all other matters.
Neither KW Commercial its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as to accuracy orcompleteness of the materials or information provided, derived, or received. Materials and information from any source, whether written or verbal, thatmay be furnished for review are not a substitute for a party’s active conduct of its own due diligence to determine these and other matters ofsignificance to such party. KW Commercial will not investigate or verify any such matters or conduct due diligence for a party unless otherwise agreed inwriting.
EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE.
Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspections andinvestigations including through appropriate third party independent professionals selected by such party. All financial data should be verified by theparty including by obtaining and reading applicable documents and reports and consulting appropriate independent professionals. KW Commercialmakes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions. KW Commercialdoes not serve as a financial advisor to any party regarding any proposed transaction.
All data and assumptions regarding financial performance, including that used for financial modeling purposes, may differ from actual data orperformance. Any estimates of market rents and/or projected rents that may be provided to a party do not necessarily mean that rents can beestablished at or increased to that level. Parties must evaluate any applicable contractual and governmental limitations as well as marketconditions,vacancy factors and other issues in order to determine rents from or for the property. Legal questions should be discussed by the party withan attorney. Tax questions should be discussed by the party with a certified public accountant or tax attorney. Title questions should be discussed by theparty with a title officer or attorney. Questions regarding the condition of the property and whether the property complies with applicable governmentalrequirements should be discussed by the party with appropriate engineers, architects, contractors, other consultants and governmental agencies. Allproperties and services are marketed by Silicon City in compliance with all applicable fair housing and equal opportunity laws.
We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. Itis submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We includeprojections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisorsshould conduct your own investigation of the property and transaction.
OFFERING MEMORANDUM
PRESENTED BY:
LAKEPORT, CA
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PROPERTY OVERVIEW
The Lakefront view from Clearlake Marina and MHP is splended.Birds, boats, skiing, or just watching the view. The Relaxing 55+Manufactured Home Park is on Main Street in Lakeport. The 51pad sites are comprised of 15 doublewides, and 26 singlewides,currently 5 vacancies, of which 4 are dirt. There are 6 recreationalvehicles. There is City Water and Sewer. The property wasre-asphalted during the late summer months. The Single FamilyResidence was moved to the lakefront in the '70s. Public recordsshow, 1341 SF, converted to 2500 SF, comprised of 3 bedroomswith office or sewing room, wtih attached bath, plus the carport.The office includes a security system. There are mulitple add-valueopportunities - renting the SFR for $1500/month, saving onmonthly waste cost $800/month, utilizing the large storeage area(s)to rehab MHs, filling the Marina and pad sites, to name a few. Thecapital costs for the new asphalt was $122,000. The Gross2017 income is reported to be $278,855 plus the sale of a MH.There is an add value in increasing the Marina income from$11,036, to up to $25,740. The monthly covered cost is $70, and$55 for uncovered. There are 11 covered spaces and 25uncovered spaces.
LOCATION OVERVIEW
The Lakefront view from Clearlake Marina and MHP has beautifulsunsets, bird watching, and fishing. The Park is located inLakeport, California on 5.25 Acres. The small town atmosphereprovides for local bands, shops and fairs. Such bands as KennyRogers, Eddy Money play at Konocti Bay. The community tradepopulation of 35,00 work in local stores such as UPS, GroceryOutlet, Dollar Store, Savings Bank of Mendocino, rental boat andbike shops. The small town character with local restaurants andactivities such as the Pear Festival and Bass Fishing, Water skiingbring people from a distance to enjoy the lakeside community. TheCombined Park and lakefront single family residence provide for aunique investment opportunity.
Property Description
CLEARLAKE MARINA AND 55+ MANUFACTURED HOME PARK |
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SALE PRICE $2,100,000
LOCATION INFORMATION
Building Name Clearlake Marina and 55+ Manufactured Home Park
Street Address 1400 South Main
City, State, Zip Lakeport, CA, 95453
County/Township Lake/Lakeport
Market Clearlake
Submarket Lakeport
Cross Streets Lakeport Boulevard, Royale
Side Of Street South
Road Type Paved
Market Type Small
Nearest Highway Hwy 101 to 175, or from Napa 29 to 175 Clearkale
BUILDING INFORMATION
SFR Sq Ft 2,500
NOI $101,017
NOI WITH SFR Rental $18/Yr Cap Rate With SFR Rented $117,123
5.58
Cap Rate With Monthly Trash Reduction 6.03
Year Built - Park 1962
Last Renovated - Pavement 2018
Occupancy % 92.4%
Large Workshop/Storeage Building
Pad Sites 51
Marina Slips 36
Construction Status Existing
Park-owned Homes SFR,
Manager's
Unit
MHs With Title Transfer At HCD - In Process Being
updated,
appr5-6
PROPERTY DETAILS
Property Type Marina and Mobile Home Park
Property Subtype Mobile Home Park
Zoning Commercial - Mobile Home Park
Lot Size 5.25 Acres
APN Nos: 005-033-58 01 , 005-631-110
Submarket Lakeport
PARKING & TRANSPORTATION
Parking Type Surface
Spaces Per Pad Visitor Spaces 1
4-7
UTILITIES & AMENITIES
Utilities
Landscaping
City Water and Sewer
Common area by Owner, Tree'd pads, Entry
Laundry Laundry Room - Two Washer Dryers
Plumbing
Electric
Existing
PG&E upgraded Pedistal
Ameniites
Monthly
Exteriors
Walking on Dock overlooking Lake
BBQs at Lakefront SFR
MHs - per Guildlines
Property Details
CLEARLAKE MARINA AND 55+ MANUFACTURED HOME PARK |
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Additional Photos
CLEARLAKE MARINA AND 55+ MANUFACTURED HOME PARK |
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Clearlake Marina and 55+Manufactured Home Park
Aerial Map
CLEARLAKE MARINA AND 55+ MANUFACTURED HOME PARK |
LOCATION INFORMATION
1 | LOCATION INFORMATION
REGIONAL MAP
LOCATION MAPS
PDF WITH HEADER/FOOTER
1LOCATION INFORMATIONCLEARLAKE MARINA AND 55+ MANUFACTURED HOME PARK
OFFERING MEMORANDUM
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Clearlake Marina and 55+Manufactured Home Park
Regional Map
CLEARLAKE MARINA AND 55+ MANUFACTURED HOME PARK 1 | LOCATION INFORMATION
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Location Maps - 1400 South Main, Lakeport
CLEARLAKE MARINA AND 55+ MANUFACTURED HOME PARK 1 | LOCATION INFORMATION
