SAN JOSE, CA– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of Oakcrest Estates Mobile Home Park (right top photo) a 158-space mobile home park in San Jose.
The sales price of $14,790,940 represents a price of $93,670 per unit. The cap rate was 5.6 percent.
Frank Rogers, a senior director in the San Francisco office of Marcus & Millichap’s National M
anufactured Housing Communities Group, represented both the buyer and the seller in this transaction.
anufactured Housing Communities Group, represented both the buyer and the seller in this transaction.The buyer is a syndicator that owns a large number of mobile home parks in the western region of the United States. The seller is a family that owns 15 parks throughout California and Washington State.
The buyer acquired the ground lease on this property, which is located at 4271 North First Street in San Jose. Encompassing approximately one million square feet and consisting of 158 double-wide spaces, the 27-acre Oakcrest Estates was built in 1979.
Press Contact: Stacey Corso, Communications Department,
(925) 953-1716
(925) 953-1716
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