From the 2004 Tustin Village Mobile Home Park Sales Brochure:
Site rents are very reasonable and range from $529-$588 plus sub-metered gas, electric, and a flat charge of $4 per month for water. All tenancies are on month to month or one year rental agreements. There is no rent control in the City of Tustin and comparable all age communities in Orange County have site rents up to $1,000.
In 12 years (2004-2016) space rent has increased approximately $1,162.00 per month (198%). That increase is calculated using the 2004 maximum space rent of $588.00 and the 2016 space rent of $1,750.00 per month for new tenants purchasing resident owned mobile homes for sale.
The Tustin Village Mobile Home Park resident providing the below space rent information signed a long-term lease agreement. The dollar amounts (from 2007 to 2016) represent a "Forbearance" discount of approximately $70.00 per month.
According to Mobilehome Magazine, for every $10.00 per month space rent increase you lose approximately $1,000.00 in mobile home equity.
The below table uses the above resident's yearly space rent increases to show the loss in mobile home equity over a seven (7) year period. The starting/ending MH (Mobile Home) Value do not take into account any gains and/or losses in the local real estate market.
2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | *2014 | |
---|---|---|---|---|---|---|---|---|---|
MH Value | $125,000 | $125,000 | $119,300 | $113,200 | $106,800 | $102,500 | $95,400 | $87,900 | $80,000 |
Rent | $950 | $1,007 | $1,068 | $1,132 | $1,175 | $1,246 | $1,321 | $1,400 | $1,600 |
Increase | $0 | +$57 | +$61 | +$64 | +$43 | +$71 | +$75 | +$79 | +$200 |
Equity Loss | $0 | -$5,700 | -$6,100 | -$6,400 | -$4,300 | -$7,100 | -$7,500 | -$7,900 | -$20,000 |
MH Value | $125,000 | $119,300 | $113,200 | $106,800 | $102,500 | $95,400 | $87,900 | $80,000 | $60,000 |
MH Book Value Monday, August 18, 2014 | $43,500 |
*2014 – This column is being used to calculate an approximate value of the mobile home based on the $1,600.00 per month space rent for new tenants purchasing a resident owned mobile home for sale.
Tax Year | Parcel Number | Land Value | Improvements | Total Value | Loss/Gain |
---|---|---|---|---|---|
2013-2014 | 891-960-14 | $0 | $0 | $50,596 | - $2,528 |
2012-2013 | 891-960-14 | $0 | $0 | $53,124 | - $7,007 |
2011-2012 | 891-960-14 | $0 | $0 | $60,131 | - $8,637 |
2010-2011 | 891-960-14 | $0 | $0 | $68,768 | - $5,366 |
2009-2010 | 891-960-14 | $0 | $0 | $74,134 | - $6,406 |
2008-2009 | 891-960-14 | $0 | $0 | $80,540 | - $5,491 |
2007-2008 | 891-960-14 | $0 | $0 | $86,031 | - $38,969 * |
* $38,969 loss based on original purchase price.
Tax Year | Parcel Number | Land Value | Improvements | Total Value | Loss/Gain |
---|---|---|---|---|---|
2017-2018 | 402-271-18 | $763,661 | $760,803 | $1,524,464 | + $29,891 |
2016-2017 | 402-271-18 | $748,687 | $745,886 | $1,494,573 | + $22,449 |
2015-2016 | 402-271-18 | $737,441 | $746,683 | $1,472,124 | + $28,836 |
2014-2015 | 402-271-18 | $722,996 | $720,292 | $1,443,288 | + $6,522 |
2013-2014 | 402-271-18 | $719,729 | $717,037 | $1,436,766 | + $28,171 |
2012-2013 | 402-271-18 | $705,617 | $702,978 | $1,408,595 | + $27,619 |
2011-2012 | 402-271-18 | $691,781 | $689,195 | $1,380,976 | + $10,321 |
2010-2011 | 402-271-18 | $686,610 | $684,045 | $1,370,655 |
Park Name | Address | Rent | Date | Source |
---|---|---|---|---|
Tustin Village Mobile Home Park Spaces: 192, Apartments: 2 Ages: Family Park |
15352 Williams Street Tustin, California 92780 714-542-0637 |
$1,950 $1,600 $1,150 |
02/2018 10/2014 10/2014 |
MH Village Resident Park Owned Homes Rent Special |
Montesilla Mobilhome Club Spaces: 58 Ages: |
15601 South B Street Tustin, California 92780 714-544-1402 Distance from TVMHP: 1.4 Miles |
$750 $700 |
12/2016 07/2014 |
MH Village Park Management |
Parque Santiago Mobile Home Park Spaces: Ages: Senior RV Park |
215 South Prospect Avenue Tustin, California 92780 714-544-7360 Distance from TVMHP: 1.4 Miles |
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Saddleback Mobilodge Club Spaces: 163 Ages: Senior Park |
15401 Williams Street Tustin, California 92780 714-542-4967 Distance from TVMHP: 0.2 Miles |
$875 $775 |
02/2018 07/2014 |
MH Village Park Management |
Trail-A-Way Trailer Park Spaces: 100 Ages: Family Park |
1782 Nisson Road Tustin, California 92780 714-544-0600 Distance from TVMHP: 1.6 Miles |
$880 $761 |
02/2018 07/2014 |
MH Village Park Management |
New Villa Valencia Mobile Estates Spaces: 150 Ages: Family Park |
14092 Browning Avenue Tustin, California 92780 714-544-0311 Distance from TVMHP: 0.3 Miles |
$1,150 $950 |
02/2018 10/2014 |
MH Village Resident |
Apartment Name | Address | Size | Rent | Date | Source |
---|---|---|---|---|---|
Monterey Pines Apartments | 15513 Williams Street Tustin, California 92780 714-555-1212 Distance from TVMHP: 0.2 Miles |
1BR/1BA 2BR/1BA |
$1,125 $1,465 |
07/2014 | Apartment Manager |
Stonebrook Apartments | 15631 Williams Street Tustin, California 92780 714-555-1212 Distance from TVMHP: 0.4 Miles |
Studio 1BR/1BA 2BR/1BA 2BR/1.75BA |
$1,040 $1,260 $1,450 $1,490 |
07/2014 | Apartment Manager |
Tustin Parc Apartments | 16282 East Main Street Tustin, California 92780 714-555-1212 Distance from TVMHP: 0.6 Miles |
2BR/1.5BA | $1,580 | 07/2014 | Apartment Manager |
Apartment Rent Note: Gas, Water, Trash and Sewage are included in the monthly rent. |