SMALL PARK SELLS - A GREAT VALUE FOR BOTH BUYER AND SELLER

The sale of the Colton Trailer and SFR Combo located at 574-584 East H Street, Colton, California was completed on September 9th, 2002 for $192,000. Vince Reynolds and Norman Sangalang of MHRV Advisors represented both parties in this transaction.

The park consists of 10 trailer spaces and a 3bd/2ba SFR. Both home anD park were older and in need of repairs and upgrades. The property is situated on a total of 0.35 acres. The Buyer intends to replace the aging electrical system and renovate other aspects of the home and park as well as fill the vacant spaces. The park is situated a few blocks from Valley Blvd. which is Colton's commercial thoroughfare running parallel north of I-10 freeway.

"The park rents at time of sale were just under $200 per month which is about $50 dollars under market. Even with the below market rents the changes in rental terms increased the value of the park dramatically from the Seller original purchase price only one year before. With potential upside in rents and filling vacancies the Buyer should continue to see an increase in value in a short period of time.," said Norman.

Vince Reynolds also commented, "Many of the smaller park owners are not aware of the potential value of their parks. Because of the smaller sales price of the Colton Park the Buyers were able to use an Equity line of credit at 4.75% with no appraisal. Many of the investors for smaller park can pay cash or use other lower rate loans to finance the purchase. This means higher cash on cash returns for Buyers and the same time higher values for Sellers."

Vince Reynolds and Norman Sangalang sell and finance mobile home and RV parks exclusively throughout the states of California, Arizona and Nevada and have sold or refinanced over 100 MH and RV parks over the past few years. For further information please contact Vince or Norman toll free at (866) 459-MHRV (6478) or via email at info@mhrvadvisors.com.