Description

Trousdale Estates, located at 210 West Ward Avenue in Ridgecrest, California, is an all-ages mobile home community set within the high desert of Indian Wells Valley in eastern Kern County, just east of the Sierra Nevada and north of the Mojave Desert. Surrounded by scenic mountain ranges and desert landscapes, the area offers abundant outdoor recreation and serves as a regional hub supported by its proximity to Naval Air Weapons Station China Lake, contributing to a stable, family-oriented and employment-driven local economy. Spanning 7.49 acres, the property comprises 67 sites, including 39 tenant-owned homes, 11 occupied park-owned homes, 14 vacant park-owned homes, 2 vacant sites, and 1 manager’s unit, along with 58 storage units that provide additional income potential. Built in 1964, the community generates approximately $577,943 in gross annual income against $366,619 in expenses, resulting in a net operating income of $211,324 and a 6.71% cap rate based on a $3,150,000 asking price, or $42,761 per site. With an average monthly site rent of $605, utilities are structured with flat-rate pass-throughs for water, sewer, and trash, while electricity and gas are sub-metered and billed back to tenants. With 16 total vacancies, including park-owned homes and open sites, the property presents meaningful upside through lease-up, rent growth, and operational improvements, while maintaining stable in-place income.