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1/18/17
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A private investor paid $2.75 mil for El Rancho Estates, a 109-space ($25k/space) manufactured home community in Blythe, CA. The seller was also a private investor.
El Rancho Estates is situated on just over 15 acres at 2450 East Hobsonway in Blythe. The property was a private REO and was 45% occupied at the time of sale.
Marcus & Millichap’s Douglas McCauley and David R. Covarrubias represented both parties in the transaction. According to McCauley, the deal closed at a 5.45% cap rate.
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