Investment Property Group Sees Mobile Home Asset’s Upside

Skandia Mobile Country Club, a 167-unit mobile home complex in Huntington Beach, recently sold to Investment Property Group for $58 million or $347,305 per space. The asset was built in 1963 on more than 17 acres.

“Centrally located in beautiful Huntington Beach, Skandia Mobile Country Club is a five-star manufactured housing community with 167 units primarily consisting of double-wide spaces, which are all tenant-owned homes,” said Jeff Benson, senior vice president investments, Marcus & Millichap. “This property offered buyers a rare opportunity to acquire a trophy asset in one of Southern California’s most sought-after destinations.”

Benson and Samuel Neumark, senior associate, represented the seller, the Coulter Family Trust, and procured the buyer.

“Given the impeccable quality of the property coupled with the strong Huntington Beach rental market, there is significant upside opportunity for the new owner,” adds Neumark. “Through a targeted marketing campaign, we generated multiple offers creating a very competitive bidding environment, giving the seller several viable buyer options to choose from.”

Located 2 miles from the beach, the property is also within walking distance to Bella Terra outdoor shopping mall, a downtown farmers market, and bars and restaurants.