330 Palm Canyon Dr Borrego Springs, CA 92004

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 leased. 10 of the leased 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