Can you imagine paying $2.5M for a mobile home? It’s not a crazy thought. That’s the price tag for a mobile home in numerous places throughout the U.S. In California alone, there are several.
In San Clemente, CA, Capistrano Shores offers ninety beach front mobile homes at a rate of between $1.8 million and $2.5 million.
In Malibu, Paradise Cove offers a “triple-wide with an ocean view” for a cool $4 million.
These parks often offer extra amenities, like 24-hour security, a pool, sporting facilities and other little luxuries.
“For these mobile or manufactured homes with a seven-figure price tag, buyers are often paying for the land. Location is key and that is what these homes have to offer,” explains Trulia’s Felipe Chacón, a housing economist.
He notes that perks like being located on the beach will raise the price as much as luxury features in the home or within the park.
Consider also the general location. In the more sought after areas of California, housing isn’t cheap. The median value of home prices in Malibu is $2.86 million, and home prices are on the rise.
The same is true in other parts of the country. In Key Largo, the median home value is over $550,000, having risen 6.7% in the last year.
Near Key Largo, in Tavernier, Florida, the Sunset Acres mobile home park has more than seventy two-bedroom, two-bathroom mobile homes for $1.4 million.
If you would like to receive Breaking News text alerts on a smartphone or tablet, download the DML APP which is completely FREE and easy to use. Go to the Google Play Store or the IOS App Store and search for DML APP. Be sure to keep the app’s notifications setting on. Another way to receive alerts is to text to 40404 the following message: follow @realdennislynch (be sure to put a space between the word follow and the @ symbol).
To see more stories like this, sign up below for Dennis Michael Lynch’s email newsletter.
Sign up to get breaking news alerts from Dennis Michael Lynch.
REPORT: retirees are hoarding cash, but why?