2020 Jul –I have lived at Crestmont Estates for over a decade. When I purchased, the real estate agent said they rarely raise the rent – it has been raised 6% every year. Since Sierra Corporate Management took over, we have a new monthly fee of $182.00 to pay for the owners property tax. New management is useless, everything they do is based on favoritism, no rule enforcement regarding parking, park is in horrible shape. The price they charge to live in this place, it should be like Beverly Hills.
2020 Jun –Wow! We are in the middle of a Pandemic and other issues in our state and the owners are going to raise the rent. People without jobs and barely surviving and they’re going to raise the rent again… very classy owners!
2020 May –Since the new owners took over, it’s gotten expensive and crappy. It took less than two years for that progress. Pandemic or not, they’re raising rent again. Come September my bill will be $250 bucks more than it was just 13 months prior.
2020 Mar –This company is charging myself and the 288 other residents of Crestmont Mobile Estates $181.68 each month, itemizing it as a “property tax pass-thru”… indefinitely. We, the residents, pay our own property taxes for our own individual properties. We also pay a high amount monthly to lease the land our properties are on – their land, of their property. We cannot understand why we are being charged this amount, and Sierra Corporate Management has refused, repeatedly, to put in writing or even via answered / returned phone calls as to the “why” of this charge. They won’t respectfully call a community meeting to discuss and clear up matters. We, the residents, do not trust many of their maneuvers and are beyond frustrated with this one. Too many documented stories of shady practices can be found from the owners of this property.
2019 Dec –Terrible place to live. At this point you can buy a real home for the same price. I’m paying 25% more now in space rent than I was 4 years ago. So, if you finance a home here you’re looking at $2,000 or more a month to live in a bread ghetto. They raised it by over $180 this year alone.
2019 Sep –I love my house here at Crestmont Mobile Estates. I just don’t know why they want everybody to move? I have lived here over 10 years and only one year our rent wasn’t raised! They’re bringing way more money in then they’re putting into the park! Like I said, I love my home, I love the park, but they’re choking us to death with the rent raises – please stop raising the rent!
2019 Mar –I live at Crestmont Mobile Estates. A new manager was hired and the place has gone down hill. It's Sunday, 12:40 PM, and the clubhouse is still locked, the pool area is still locked, and the new manager is rude and very unprofessional. The new manager hasn’t even updated the contract list for the community.
2018 Aug –How about instead of dangerously parking all these cars on Site Drive that you add some parking in your overly cramped mobile home park? All these cars along Site Drive are obstructing visibility and making navigating Site Drive very unsafe for the people who have to cross the street. Seriously, stop adding so many trailers in your park and add some actual parking instead inside the facility all your residents pay for!
2018 Jul –At the last minute would not approve an all cash buyer with retirement savings and would not give any clear or distinguishable reason as to why this was the case. They are also partners with a towing company that routinely comes to the park and drives around looking for people whose cars are parked outside for even just a few minutes. They've towed hospice nurses with plaques on their car from the hospital as well as towing a car that had a little kid in it while the parent was inside putting groceries away – they literally towed the car with the child still inside.
2017 Jul –Management is horrible, very inconsistent on rule enforcement. Rent goes up 5.5 to 6% every year. Common residential turnaround because of rent hikes, it will get to where you cannot afford to live there anymore. Management makes it very hard to sell, so do not go in thinking temporary. You need park approval to make any upgrades on your home including paint. Parking is scarce for guests and they pay tow trucks to make rounds and tow your car even if you are loading and unloading. Your home will not be yours, it is theirs, and they tell you what you can do to your home or not.
2017 May –The Crestmont Mobile Estates land owners are hurting their residents financially. If you are a concerned neighbor or owner inside the park, please sign this petition on STOPPING THE YEARLY 6% PER MONTH SPACE RENT INCREASE that is financially hurting families and seniors on fixed incomes. Realtors lie to potential buyers by telling them rent increases don't happen often and advertise a low space rent price to entice buyers.
Owners Against Crestmont Mobile Estates Yearly Space Rent Increases
Kort & Scott Purchase Leasehold Interest in Crestmont Mobile Estates
2018 Jan –Thu, Jan 11, 2018 – Kort & Scott Financial Group has landed a $30 mil Fannie Mae adjustable-rate loan for the acquisition of a leasehold interest in Crestmont Mobile Estates, a 289-space manufactured housing community (MHC) located 33 miles southeast of Los Angeles in Brea.
Crestmont Estates is fully occupied and was originally developed in 1970 as a 263-space community. Subsequent construction in 2007 added 26 spaces. The community has a pool, clubhouse with recreation room, and central laundry.
Kort & Scott Financial Group is the 13th largest owner and operator of MHCs in the country. Based in Southern California, Kort & Scott has acquired over 9,500 MHC properties to date and currently manages a portfolio spanning California, Colorado, Arizona, and New Mexico.
Capital One’s Chad Thomas Hagwood originated the loan and Brandon Pate, also with Capital One, managed the transaction. The 10-year, adjustable-rate loan has six years of interest-only payments followed by amortization on a 30-year schedule.
$30.0MM Fannie Mae Loan – Leasehold Purchase Crestmont Mobile Estates
Note: Click/tap on table headings to sort ascending or descending, click/tap the # column to reset.
Operated By: Bandera Estates Partnership
|326 E Ash St||Brea||CA||92821||714-990-1466||87||0||0||55||1,200||05/2019|
|Crestmont Mobile Estates
Operated By: KSFG, Sierra Corporate Management, Crestmont Lowertier Associates LP, Crestmont Uppertier Associates LP
|1051 Site Dr||Brea||CA||92821||714-529-4131||289||0||0||AA||1,500||02/2021|
|Hollydale Mobile Home Park
Operated By: KSFG, Sierra Corporate Management, Hollydale Lowertier/Partner LP, Hollydale Uppertier/Operating LP
|5700 Carbon Canyon Rd||Brea||CA||92823||714-528-7779||134||0||0||AA||1,650||02/2021|
|Lake Park Brea
Operated By: Edwin Evans
|625 N Puente St||Brea||CA||92821||714-524-6960||342||0||0||55|
|Rancho Brea Mobile Home Estates
Operated By: Caritas Affordable Housing Inc
|1414 W Central Ave||Brea||CA||92821||562-261-1432||100||0||0||AA||875||04/2019|
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