2017 Jul –This neighborhood has become a horrible place to live. Management knows and doesn't enforce its own rules and regulations, or law. It is even becoming dangerous. Between a half and a third of the spaces here are empty or for sale, or don't have a home on the space. People have been found breaking into and squatting in these abandoned mobile homes. I am saddened to see my home being slowly destroyed.
2015 Feb –But now, with $1,700 rent, more and more people are finding they can’t afford their rent, and they are trying to sell their homes. However, the homes won’t sell because the rent is too high. Since they can’t sell, residents are walking away from their homes, and this park is receiving more and more foreclosures than ever before. Because of all the foreclosures, mortgage companies have "gotten the word," and are refusing to loan to buyers in this park.
The leasehold sale of the Lincoln Center Mobile Home Park located at 9080 Bloomfield Avenue in Cypress in Orange County, California closed on March 10, 2005 for $19,795,000. John Grant of Park Brokerage Inc. represented the buyer in the sale.
The all ages, 4+ star community was built in 1971 and consists of 305 doublewide spaces on 31.09 acres. Amenities include a 7,500 sf clubhouse with manager’s office, billiards room, exercise room, computer lab and craft room, dealer’s office, kitchen, and main room with a stage and capacity for 292 people, swimming and kiddy pools, playground, and basketball court.
Site rents were $583-$711 with a $641 average plus submetered gas, electric and water utilities and sewer and trash charges. There is no rent control in the City of Cypress.
Park Brokerage – March 10, 2005 Press Release
Note: Click/tap on table headings to sort ascending or descending, click/tap the # column to reset.
|Bloomfield Mobile Home Park||22221 S Bloomfield Ave||Cypress||CA||90716||562-598-6031||47||55||950||03/2018|
|Cypress Mobile Park||4861 Lincoln Ave||Cypress||CA||90630||714-548-1201||35||AA||750||03/2018|
|Lincoln Center Mobile Home Park
KSFG, Sierra Corporate Management
|9080 Bloomfield Ave||Cypress||CA||90630||714-531-3764||305||AA||1,950||02/2021|
All Urban Consumers, Los Angeles-Long Beach-Anaheim, California, Jan 2005 through May 2022
The last column (Rent) uses an example (not included in the Bureau of Labor Statistics data) of mobile home space rent starting at an average of $641 per month in the year 2005 and currently (May 2022) at $1,010 per month. The starting $641 monthly average below is based on space rents in the year 2005 when Kort & Scott Financial Group purchased the leasehold rights for Lincoln Center Mobile Home Park.
The difference in space rent is a 100% increase based on the yearly average CPI which is the maximum allowable increase under some California Mobile Home Park Rent Stabilization Ordinances (RSOs) – many RSOs only allow a maximum yearly space rent increase of 1.5% to 3.0% and take into consideration the real cost of living adjustments for those with low/fixed incomes.
Source: U.S. Department of Labor, Bureau of Labor Statistics, Consumer Price Index, Los Angeles Area
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