5471 S Libby Rd

273,992 / 6.29
Lot Size / Acres

Description

Motivated seller. Prime Improved Land! This may be the opportunity you are looking for to create impressive income. This age-restricted 55+ property is centrally located and close to Shopping, Restaurants, Schools, fire, and police. Improved with a proposed 54 mobile home spaces, 47 of which have separate meters for gas, electricity. Space dimensions accommodate a mix of triple-wide, double, and single-wide manufactured homes and mobile homes. The current market would support $650 monthly space rent...Motivated seller. Prime Improved Land! This may be the opportunity you are looking for to create impressive income. This age-restricted 55+ property is centrally located and close to Shopping, Restaurants, Schools, fire, and police. Improved with a proposed 54 mobile home spaces, 47 of which have separate meters for gas, electricity. Space dimensions accommodate a mix of triple-wide, double, and single-wide manufactured homes and mobile homes. The current market would support $650 monthly space rent for $421,200 annual gross income, pro forma cap rate 28%. The Town of Paradise zoning TR-1 allows for permitted use as a mobile home park, group home, or elderly community care facilities. The subject is situated within the confines of two contiguous Assessor’s parcels located west of S. Libby Road, south of Newland Road, within the town of Paradise, California. Access via a long paved driveway from S. Libby Rd gives the feeling of seclusion and privacy. A communal space is central to the park where either 4 spaces could be created or a common multi-use building could be re-built, next to the USPS mailbox cluster. The park has six septic tanks. Trenching for septic and public water to each space will be the responsibility of the new owner, has not been investigated by the listing brokerage or Seller. Water is available at the street, Paradise Irrigation District. Before the Camp Fire in 2018, the park was a thriving community known as Holly Hills Senior Mobile Home Park. An appraisal done by Nelson M. Wong, MAI for a national bank in July 2017 valued the park at $2.55M with a 91% vacancy at the time. The present utility infrastructure was rebuilt at no cost to the owner. APNs: 054181-011 and 054-81-026 for a combined 6.29 acres. Flood insurance is not required. California earthquake Zone 3 (very low risk). Lower Paradise, which means little chance of snow. No apparent adverse easements, encroachments or other conditions currently impacting the subject.
  1. Listed by Dustin Cheatham • DRE #01972561 • Brokerage DRE #02014153 • Upside Real Estate • 530-355-6881

Property Details for 5471 South Libby Road

View
Mountain(s), Trees/Woods
Lot Size Source
Assessor
Assessor Parcel Number
054181026000
New Construction
No
Pool
No
View
Yes
View
Yes
Association
No
LISTING CLOSED: 08/05/2024 12:00 AM

Property Details for 5471 South Libby Road

StatusClosed
MLS #SN23224360
Days on Compass113
Taxes-
HOA Fees-
Condo/Co-op Fees-
Property TypeLand
MLS TypeLot/Land
Year Built-
Lot Size6.29 AC
CountyButte County

Location

Listing Courtesy of Upside Real Estate, Dustin Cheatham, DRE #01972561

Sold By Upside Real Estate, Dustin Cheatham, DRE #01972561

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Building Information for 5471 South Libby Road

Lot Size6.29 AC

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$5,391 per month

30 year fixed, 6.55% Interest

Principal and Interest

$4,757

Property Taxes

$634

HOA Dues

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Property Information for 5471 South Libby Road

Income / Expense / Tax Details
Tax / Assessment Info
  • Tax Census Tract: 23.00
  • CFD/Mello-Roos Fee: $1
Community / Development
Community / Development
  • Assessments: Buyer to Verify
  • Community Features: BLM/National Forest
Property / Structure Info
Exterior Features
  • Structures: Value in Land
  • Other Structures: Value in Land
  • Miscellaneous: Value in Land
  • View Description: Trees/Woods
Distance To
  • Distance To Water: 1
Land/Lot Info
  • Sign on Property: Yes
  • Additional Parcels Description: 054181011000
  • Lot Features: Gentle Sloping, Value In Land
  • Land Lease: No
  • Land Lease Type: Fee
  • Road Surface Type: Paved
  • Road Frontage Type: City Street
  • Water: Public
  • Sewer: Conventional Septic
  • Sewer/Septic: Septic Installed
  • Utilities: Electricity Connected, Natural Gas Connected, Sewer Not Available, Water Available
  • Electric: Electricity - On Property
  • Water Source: Public
Parking Info
  • Carport Spaces: 0
Property / Structure Info
  • Residential Styles: Lots/Land

Property History for 5471 South Libby Road

DateEvent & SourcePriceAppreciation
Aug 5, 2024

Sold

CRMLS #SN23224360

$935,800
Aug 5, 2024

Sold

SDMLS #SN23224360

$935,800
Jun 28, 2024

Sold (Public Record)

Public Record #1539166586

$936,000
DateEvent & SourcePrice
08/05/2024

Sold

CRMLS #SN23224360

$935,800
08/05/2024

Sold

SDMLS #SN23224360

$935,800
06/28/2024

Sold (Public Record)

Public Record #1539166586

$936,000

For completeness, we often displays two records for one sale: the MLS record and the public record.

Public Records for 5471 South Libby Road

Taxable ValueLand$520,000Additions$180,000Total$700,000
Tax Record2025$7,608 ($634 / month)
Home Facts
Lot Size217,800 SqFtStyleMiscellaneous CommercialYear Built1964ZoningRT1CountyBUTTEAPN054-181-011-000

Schools near 5471 South Libby Road

This home is within Paradise Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 7 to 8
Public - 9 to 12
Public - 7 to 12
Rating
School
Distance
Paradise Elementary School
PublicK to 5

Paradise Intermediate School
Public7 to 8

Paradise Senior High School
Public9 to 12

Honey Run Academy Secondary
Public7 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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Listing Courtesy of Upside Real Estate, Dustin Cheatham, DRE #01972561

Based on information from one of the following Multiple Listing Services: San Francisco Association of Realtors, the MLSListings MLS, the BAREIS MLS, the EBRD MLS, Shasta Association of REALTORS® Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by San Francisco Association of Realtors, the MLSListings MLS, the BAREIS MLS, the EBRD MLS, Shasta Association of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.