Marcus & Millichap closed the sale of Shady Lane Mobile Home & RV Park, a 100% occupied, 41-site manufactured homes community on 1.65 acres at 244 Shady Ln. in El Cajon. The sale price was $4,400,000.

“Shady Lane Mobile Home & RV Park was a Watkins family generational asset,” said Dustin Wilmer, vVP investments in Marcus & Millichap’s San Diego Del Mar office. “The property had not traded hands since 1981 and this was the first time it has ever been advertised for sale.

“The new owner was in a 1031 exchange from his two mobile home & RV Parks that we recently closed in Yuma, AZ and is an El Cajon local,” Wilmer continued. “Shady Lane was a perfect fit for this buyer, and he was able to pay the price and terms acceptable to seller while closing in seven days.”

Wilmer marketed the property on behalf of the seller, a limited liability company. The buyer, a private investor, was also procured by Wilmer.  

Marcus & Millichap is beginning the fall with two timely webcasts. Click here for on-demand replays of “Positioning for Opportunity in Today’s Multifamily Market,” with insights from both in-house experts and institutional owners. On Sept. 26, Hessam Nadji will host a conversation with Lloyd Blankfein, former chairman and CEO of Goldman Sachs, with CRE industry leaders joining the conversation. Click here to register.

Connect Orange County will take place Sept. 27, 2023 at VEA | Newport Beach Marriott in Newport Beach, concurrently with Connect Healthcare Real Estate on Sept. 27 and 28. Click here to register for Connect Orange County, and here to register for Connect Healthcare Real Estate.