Sandy Creek Village

Sandy Creek Village, a 45-site all ages community, is located in Auberry, CA, just 30 minutes from Fresno. The market features a median home price of $338,000 with very few options for affordable housing. We sourced the acquisition through a residential Realtor and acquired the property for $1,825,000, or $40,500/pad. The community has a solid long-term tenant-base, well-maintained infrastructure, and most sites are large enough to accommodate double-wide homes. We feel that the acquisition price represents a strong immediate value with the ability to raise rents to market and pass through the cost of water, sewer, and trash. Immediately upon closing the acquisition, a 90-day notice was issued to pass through the water, sewer, and trash costs, which total $90/month/site. This combined with moderate estimated rent increases results in a projected increase to NOI of 38% by the end of year five.