CBRE, Inc. is pleased to present for sale Hollywood Backlot Homes: A unique, turnkey,
value-add residential rental investment opportunity of up to 190 units situated on ±9.15
park-like acres in North Hollywood, California. The property was formerly operating as
a mobile home park. Over the past 20 years, Ownership was successful in vacating 140
of the mobile home spaces to create this extraordinary value add opportunity. There
remains 49 spaces that are currently leased to tenants that own their own homes (herein
referred to as legacy units). These legacy units are mainly concentrated at the rear
section of the property, with the exception of 5 units. The potential is to put manufactured
homes on each of the 190 spaces, starting with the 140 spaces that are available now
and rent them as a multifamily community. Included in the price for the property are 51
new manufactured homes. There are currently 33 manufactured homes in various stages
of installation on the property and almost half are already leased and occupied. An
additional 18 manufactured homes have been ordered and are expected to be delivered
to the property in November 2017.
