Mobile home park sells above $14M

Ground lease totals nearly 1 million square feet

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An owner of a large number of mobile home parks in the western United States has added another property to its portfolio with the purchase of Oakcrest Estates Mobile Home Park in San Jose, Calif. The ground lease, purchased for nearly $14.8 million from a large, unidentified mobile home park owner, includes 158 spaces on a lot that totals 27 acres. The property is located at 4271 North First St. and was built in 1979. The sales price represents $93,670 per unit. *** What's your opinion? Leave your comments below or send a letter to the editor. ...