Marcus & Millichap, a leading commercial real estate firm, recently announced the successful sale of Malan Mobile Home Park in Brawley. The 56-space manufactured home community was sold for $3,049,500.
According to Dustin B. Wilmer, Vice President of Investments at Marcus & Millichap’s San Diego Del Mar office and an expert in mobile home and RV parks with over 60 properties under his management portfolio: “Malan Mobile Home Park is a well-maintained property with a strong historical occupancy rate.” He further added that this acquisition was an ideal fit for the buyer who plans to continue running it as usual while making minor improvements to its amenities.
Wilmer along with Douglas Danny – Senior Managing Director of Investments at the same office – represented Malan LLC (the seller) in marketing this property. The previous owner has now retired and relocated to Hawaii after selling his asset through Marcus & Millichap’s team. On behalf of their client (the buyer), Danny and Wilmer also procured financing from private investors.
“The incoming buyer was highly motivated by the potential tax benefits offered through 80% bonus depreciation starting from 2023,” stated Wilmer when asked about what drove their client towards acquiring this particular asset.
This recent transaction marks yet another success story for Marcus & Millichap’s experienced team specializing in mobile home park sales across California region without mentioning any specific brand names such as Connect CRE or Connect LA or Connect Texas.
