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El Cajon mobile home park sold

The 29-site Rancho Sierra Mobile Home Park, at 10001 Dunbar Lane in the unincorporated area of El Cajon, and a rental manufactured home have been sold for $2.75 million.

The buyer was Rancho Sierra LLC, 125 Crescent Road, San Anselmo 94960. Harry T. Hunt is the manager of Rancho Sierra. The acquisition was financed with a loan of $1.9 million from Union Bank.

The sellers of the property were George R. Percy and Gillian Percy, trustees of the C.G.G.P. Family Trust.

John Grant, of Park Brokerage Inc., handled the sale.

The all-ages community has 23 doublewide units. Twenty homes were 2001 or newer and the all units were leased at time of sale. The community was built in 1970 on 3.01 acres.

Sites rents range from $620 to $695 plus submetered gas, electric, water and $20 per month for trash. The property is serviced by county water and has septic sewer.

Amenities included a laundry room, office with bathrooms, exercise room and grass fields.

The cap rate was 5.75 percent and the new loan was at 4.375 percent.

John Grant has sold 164 manufactured housing communities and RV parks in the last 27 years and financed over 200.

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