Banner Ranch

List Price $2,499,000

36342 CA-78, Julian, CA 92036

Exclusive Listing
Jason Lippe
619.839.0619
jlippe@avinerealestate.com

Price
$2,499,000

Total Sites
18*
*Total Sites exclude saloon/store, 11 campground sites, 2 covered wagons

Price/Site
$138,833

Price/Acre
$35,517

Occupancy
100%

Lot Size
70.30 Acres

Designation
All Age

Year Built
1960s

NOI (Current Budget)
$150,607

Cap Rate (Current Budget)
6.03%

NOI (Pro Forma)
$
200,280

Cap Rate (Pro Forma)
8.01%

INVESTMENT HIGHLIGHTS

CAPITAL INVESTMENT – Seller has invested ~$1,000,000 into critical improvements and upgrades:

  • Replacement of the main septic tank

  • Installation of new water filtration system and water storage

  • Repairs and remodeling of the store/saloon and site-built house

  • Purchase and installation of 13 POH, 2 covered wagons and 8 sheds

  • General cleanup and repairs throughout the Property

ATTRACTIVE LOCATION– Located in Julian, CA, a popular mountain getaway in eastern San Diego County, benefiting from demand driven by both full- time residents seeking affordable housing and a steady flow of regional visitors. Julian's historic downtown, renowned apple orchards, and scenic hill country draw tourists year-round from the broader San Diego metro and beyond.

EXPANSIVE PROPERTY – Spanning over 70 acres across three separate parcels, the property offers a rare combination of scale and versatility in a supply-constrained rural market. The acreage supports the existing mix of residential, short term rental, and commercial uses while leaving room for a new owner to explore additional property utilization strategies.

IN-PLACE CASH FLOW – All 17 HCD-permitted MH home sites are occupied, providing a stable residential income base from day one. Eleven of the 13 park-owned homes are leased on a long-term basis at an average of $1,390 per month, the remaining two are operated as short-term rentals, and the four tenant-owned home sites generate average space rents of $950 per month.

REVENUE STREAMS – The property generates income from multiple independent sources, including long-term space rents, park-owned home rentals, short-term rentals via two park- owned homes and two covered wagons, a leased cell tower, and occasional campground and other revenue. This array reduces reliance on any single income source and provides multiple levers for revenue growth under new ownership.

VALUE-ADD OPPORTUNITY – Banner Ranch presents multiple avenues for revenue growth and operational improvement. The saloon, store, campground, and covered wagon rentals each represent income streams with capacity for increased contribution, and a buyer may find opportunities to streamline expenses relative to current operations.

EXECUTIVE SUMMARY

Banner Ranch is a 70.36-acre mixed-use property offered at $2,499,000, located in Julian, CA within San Diego County's scenic backcountry. The Property consists of 17 HCD-permitted manufactured home sites, 11 primitive campground sites, two covered wagon short-term rentals, one saloon and store building, one three-bed, one-bath ranch house, one leased cell tower, and common area facilities including bathrooms, showers, and laundry. The offering presents a compelling value-add opportunity driven by campground optimization, saloon and store repositioning, and expense reduction.

The 17 manufactured home sites are 100% occupied and include a mix of park-owned and tenant-owned homes. 11 of the 13 park-owned homes are leased long-term at an average of $1,390 per month, with the remaining two operated as short-term rentals. The four tenant-owned home sites carry an average space rent of $950 per month. Water, septic, and trash are included in rent, with electric submetered and billed back to tenants. The park-owned homes – predominantly tiny home/park models – are included in the sale.

The property is served by a private well and septic system, both recently repaired. Since acquiring Banner Ranch in 2020, the owner has invested approximately $1,000,000 into the property. Improvements include critical upgrades and repairs to the water and septic systems, repairs and remodeling of the store/saloon building and site-built house, purchase and installation of 13 tiny home park models, 2 covered wagons and 8 storage sheds, and general cleanup and repairs throughout the property.

The property is operated by a resident manager who occupies the on-site ranch house rent-free and receives a monthly salary. Manager responsibilities include tenant and vendor coordination, day-to-day maintenance, and direct operation of the campground, store, and saloon. A buyer may explore leasing the saloon and store to an outside operator as a path to reducing management complexity and improving net income.

Banner Ranch is strategically positioned to capture both local housing demand and regional tourism activity in San Diego County's backcountry. Just over an hour from central San Diego, Julian draws visitors year- round for its historic downtown, world-famous apple pies, and scenic natural beauty. The campground, covered wagons, and commercial amenities remain meaningfully underutilized, representing upside potential for an experienced operator. Banner Ranch offers a rare combination of stabilized residential income, short-term rental 

Please do not visit, drive through, call, or disturb the property or its residents without prior approval from the listing broker

Banner Ranch
36342 CA-78, Julian, CA 92036

 

Contact Listing Broker

Jason Lippe
Investment Associate
jlippe@avinerealestate.com
619.839.0619
DRE #02125721

Tim Ryan
Managing Broker & CEO
tim@avinerealestate.com

310.862.6103
DRE #02097345

AVINE REAL ESTATE
info@avinerealestate.com
949.432.4055
AVINE DRE: #02257582
120 Newport Center Dr,
Newport Beach, CA 92660

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