Ridgewood MHP Development

List Price $1,390,000

6674 Pentz Road, Paradise, CA 95969

Tim Ryan & Jason Lippe Exclusive Listing

DOWNLOAD OM

Price
$1,390,000

Total Sites
100 Sites
(103 HCD Permitted Sites)

Price/Site
$13,900

Price/Acre
$87,697

APN
050-230-058-000
050-230-058-000

Lot Size
15.85 Acres
(11.32 + 4.53 Acres)

Site Type
+90% Fit Double Wide

Designation
Age Restricted

Land Use
Commercial

Zoning
Town-Residential-1/3

Utilities
Public Water
Private Septic
PG&E Electric & Gas

INVESTMENT HIGLIGHTS

❑ Seller Financing – Attractive seller financing is available for qualified borrowers (30% Down, 5% I/O, 3 year term).

❑ Scale – 100 spaces allows for economies of scale in development and operations once complete.

❑ Sites – Over 90% of the spaces are large enough for a doublewide MH with the remainder able to fit a singlewide.

❑ Attractive Pricing – Ridgewood MHP is being offered for $13,900 per pad, 25% less than similar development sites which have traded for an average of $18,485 per pad.

❑ Rent Comps – Comparable manufactured home communities in Paradise are earning monthly space rents averaging $612.

❑ Location – Within 10 minutes of major retail and services, 30 minutes of Chico, CA and 90 minutes of Sacramento, CA.

EXECUTIVE SUMMARY

Ridgewood MHP is a development opportunity located in Paradise, CA, nestled in the scenic foothills of the Sierra Nevada. Comprised of two separate parcels spanning 15.85 acres, it is one of the largest communities in the area. With attractive seller financing available and 100 manufactured home sites, it presents the opportunity for economies of scale upon completion. Ridgewood MHP consists of primarily flat, usable land and all debris has been cleared from the 2018 Camp Fire, resulting in a blank slate for the reestablishment of a high-quality community.

The property is being offered for a price of $1,390,000 ($13,900 per pad) and seller financing is available for qualified borrowers at 5% Interest Only for a three-year term with 30% down. Public water is available for Ridgewood MHP from Paradise Irrigation District and there was an expansive septic system consisting of 32 tanks with all tanks having at least one replacement field prior to the fire, with current status needing to be inspected by new owner. PG&E has committed to restoring electric and gas service, streamlining utility reinstatement for future development. There is also excess land at the east end of the property which was previously used for storage.

The town of Paradise is blooming thanks to substantial public and private investment. In 2022, $73mm was allocated to repave all public roads and public underground utility repairs were completed in 2024. Businesses and residents have returned to Paradise, with numerous retailers located within 3-miles of Ridgewood MHP such as Dollar General, Walgreens, Dollar Tree, Ross Dress for Less, and more. A recent grant from the Sierra Nevada Conservancy will enable the expansion of Noble Recreation Park, an outdoor amenity directly adjacent to Ridgewood MHP. For major employment and services, Ridgewood MHP is located approximately 30 minutes from Chico, CA and 90 minutes from Sacramento, CA.