5250 Whispering Creek Dr, Santa Rosa, CA 95403

Stonegate Mobile Home Park is a 70-site, all-age manufactured housing community located in Santa Rosa, CA, the heart of Northern Californias wine country. Stabilized at 99% occupancy, this 4.0-star community is permitted by HCD for 70 sites consisting of 68 mobile home sites and 2 RV sites. Buyers have the option to assume the existing agency loan. There are 65 tenant-owned mobile homes, 2 stick-built single-family residences, 1 tenant-owned park model, and 2 park-owned mobile homes (1 vacant and 1 serving as the onsite managers unit). The 2 park-owned mobile homes are included in the sale, representing a value of approximately $250,000. The average mobile home rent of $590 is approximately 32% below market, offering upside subject to local rent control ordinance guidelines. The community has a large clubhouse with a full kitchen, in addition to a spacious laundry room. The property is in the process of converting from private well and septic systems to municipal water and sewer, creating future opportunities to pass utility costs through to residents. Additionally, Stonegate MHP is enrolled in PG&Es utility conversion program to individually meter gas and the remaining seven electric sub-meters to direct bill, which is expected to further reduce operational expenses. Buyers have the option to assume the existing agency loan. Stonegate is a stable high-quality community with recent capital improvements including new asphalt and upgrades to the electrical systems for common ar