Exclusively Offered For Sale
Westwind Mobile Home Resort
11270 Konocti Vista Drive
Lower Lake, CA 95457
Christopher D. Busby
5176 Covenant Court
Loomis, CA 95650
Office 916-652-1055 ext. 1 Fax 916-652-1056
email [email protected] CA DRE# 01262030
CONFIDENTIALITY STATEMENT
This Confidential Memorandum and Investment Offering (“Memorandum”) has been prepared
by McKay Florence Investments, Inc. (Owner’s Exclusive Agent) to assist you in determining
your level of interest in acquiring the Westwind Mobile Home Resort (“the Property”). The
Memorandum is solely for informational purposes and does not purport to be all-inclusive
regarding the information needed to make a purchase decision. No representation or warranty is
made by Owner, Owner’s Exclusive Agent, or any of their officers, employees or agents,
expressed or implied, as to the accuracy or completeness of the contents of this Memorandum.
Although the information contained herein is believed to be correct, a prospective purchaser’s
due diligence should include independent verification of all such information as the Owner,
Owner’s Exclusive Agent, their employees or agents make no representation as to its accuracy or
completeness. No legal commitment or obligation shall arise by reason of the Memorandum or
its contents. Any representation, warranty or other statement made by Owner shall be given only
to the ultimate purchaser and then only in a separate written document(s) which makes specific
reference to the undertaking or representation being made or assumed.
This Memorandum is subject to prior placement, errors, omissions, changes, withdrawal or
cancellation without prior notice. Owner exclusively reserves the right, at its sole discretion, to
reject any and all expressions of interest or offers regarding the Property and/or to terminate
discussions with any entity at any time with or without notice. Owner’s Exclusive Agent is not
authorized to make any representations or agreements on behalf of Owner.
This Memorandum and its contents, except such information which is a matter of public record,
are of a confidential nature and are the property of the Owner’s Exclusive Agent. By accepting a
copy of the Memorandum, you agree to treat the information herein in strict confidence and you
agree not to photocopy or duplicate it or disclose it or its contents to third parties, except for
outside advisors retained by you to assist you in your evaluation, without the prior written
consent of the Owner or Owner’s Exclusive Agent.
Westwind Mobile Home Resort
11270 Konocti Vista Drive
Lower Lake, CA 95457
42-SPACE ALL AGE MOBILE HOME RESORT,
Single Family Home Split into Duplex
Price: $ 1,690,000
Down: $ 500,000 30%
New Financing: $ 1,190,000 *5.0% 5 year fixed rate, 25 year amortization
due in 10, Est. monthly payment of $6,957
Cap Rate: 10.0% NOI: $ 170,201
Cash Flow: $ 86,722 Cash on Cash Return: 17.34%
Price Per Space: $ 38,409
Description: Westwind Mobile Home Resort is a well maintained mobile home resort
community located on the shores of Clear Lake, the largest natural freshwater
lake in California. Residents enjoy their own private boat dock, swimming pool,
BBQ pit, covered picnic area, and a large park-like lawn area. Homes sit above
lake level and provide beautiful lake views for home owners.
Utilities: Gas, electric, and water are sub-metered and billed to each home based upon
usage. Sewer is provided by a septic system and billed at a flat rate of
$25/month. Trash removal is billed at a flat rate of $11.22/month.
Age: Built in 1965.
Rent: Rents range in the community from $550 to $555.
Rent Control: There is no Rent Control in Lower Lake, or Lake County.
* Based on rate available 2/19/14; subject to change based on actual loan rate at closing.
This information has been secured from sources we believe to be reliable, but we make no warranties or representation,
expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risks for inaccuracies.
Westwind Mobile Home Resort
11270 Konocti Vista Drive
Lower Lake, CA 95457
PROPERTY DESCRIPTION
APN/Assessment Number: 009-018-210-000
Parcel Size/Density: Approx. 8.91+/- acres
Number of Home Sites: 42 mobile home spaces, one house and one apartment
Home Sites per Acre: 4.71 units per acre
Property Age: Constructed in the early 1960’s
RV Storage Area: Yes, can accommodate RV’s or boats, currently there is no charge
to the residents for usage.
Legal Conforming Use: Yes
Surrounding Properties: Single-family homes, boat docks and natural terrain.
Utility Providers: Water – Private water system using water from Clear Lake
Sewer – Private septic system
Electric – PG & E
Gas – Lake County Propane
Trash Removal – Southlake Refuse Company
Telephone – Local provider
Cable – Local provider
Amenities: Private boat dock, swimming pool, BBQ pit, covered picnic area, a
large park-like lawn area, and lake views.
Interior Streets Surface: Asphalt
Age Restriction: All Age
Interest Considered: Fee simple
This information has been secured from sources we believe to be reliable, but we make no warranties or representation,
expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risks for inaccuracies.
Westwind Mobile Home Resort
New Owner Income and Expense Statement
Income Footnote Footnote Reference
Gross Space Income $276,624 (1) (1) Annualized January 2014 rent
Vacancy Loss - 49,500 (2) roll
Manager Rent Credit -6,660 (3) (2) Three vacant sites, 2 vacant
House Rent 8,400 (4) inventory homes and Duplex
Apartment Rent 7,800 (5) (3) Manager receives free space rent
Electricity 16,556 (6) space 9 on the rent roll
Gas 14,982 (6) (4) House side of the duplex can
Water 16,030 (6) rent for $700 per month
Sewer 11,775 (6) (5) Apartment side of the duplex can
Trash Removal 5,288 (6) rent for $650 per month
Late Charges 620 (6) (6) Actual 2013
Laundry Income 864 (6) (7) Estimated at 1..0362% of the
Other Income 125 (6) purchase price plus $175 for
Total Income 302,904 mosquito abatement and $1,890
for fire protection
Expenses (8) Includes bonus of $275
(9) Includes employee benefits of
Property Taxes $ 19,577 (7) $118
Insurance 5,177 (6) (10) Includes advertising for
On-site Payroll 5,494 (8) apartment and mobile homes
Maintenance Payroll 6,195 (6) (11) Includes computer repairs,
Payroll Taxes 1,938 (6) postage, printing and internet
Workers Compensation 1,184 (6) (12) Includes consulting, title search
Payroll Service 1,584 (6) and inspection fees
Maintenance & Repairs 31,409 (6)
Pool 858 (6)
Trash Removal 5,962 (6)
Electric 22,216 (6)
Gas 16,999 (6)
Telephone 2,046 (6)
Accounting 2,220 (6)
Legal 3,150 (6)
Advertising & Promotion 468 (6)
Bank Charges 222 (6)
Credit Reports 175 (6)
Billing Service 1,276 (6)
Office Expense 2,285 (11)
License & Permits 1,326 (6)
Other 941 (12)
Total Expenses $132,703
Net Income $170,201
This information has been secured from sources we believe to be reliable, but we make no warranties or representation,
expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risks for inaccuracies.
*Vacant Park Owned Home (2)
**Vacant Space (3)
***Home owner pays $777 for 2 lots, space 20 and 21
****Note, space rent is $550 and house note is $125
Rent Roll January 2014
2013
Westwind Mobile Home Community
11270 B Konocti Vista Dr. Lower Lake, Ca
# RENT # RENT
1 $ 555.00 24**** $ 675.00
2 $ 555.00 25 $ 550.00
3 $ 550.00 26 $ 555.00
4 $ 550.00 27 $ 555.00
5 $ 555.00 28 $ 555.00
6 $ 550.00 29 $ 555.00
7 $ 550.00 30 $ 555.00
8* $ 555.00 31 $ 555.00
9 Mgr 32 $ 560.00
10 $ 555.00 33* $ 555.00
11 $ 550.00 34 $ 555.00
12** $ 555.00 35 $ 560.00
13 $ 550.00 36 $ 555.00
14** $ 555.00 37 $ 555.00
15 $ 550.00 38 $ 555.00
16 $ 550.00 39 $ 555.00
17 $ 550.00 40 $ 555.00
18 $ 555.00 41 $ 555.00
19** $ 555.00 42 $ 555.00
20*** $ 777.00 House/Office $ 700.00
22 $ 550.00 Apt A $ 650.00
23 $ 555.00
$23,292.00
WESTWIND MOBILE HOME RESORT
WESTWIND MOBILE HOME RESORT
WESTWIND MOBILE HOME RESORT
Westwind Mobile Home Resort
11270 Konocti Vista Drive
Lower Lake, CA 95457
