$484,217 before taxes Manufactured home communities in California and Arizona
Evans Properties owns and manages four manufactured home communities in California and Arizona. They decided to sell their last community in California and centralize everything in Arizona. The most important factor in deciding to sell their community in National City and exchange into Hacienda Solano was the lack of depreciation in their current investment Bonita Vista.
- Total equity in Bonita Vista MHP $1,800,000
- Price of Hacienda Solano MHP $6,300,000
- Income Before Exchange:95 spaces, National City, CA $332,000 before taxes
- Income After Exchange:180 spaces, Chandler, AZ $484,217 before taxes
- $152,217 net additional income
Not only did he centralize all of his investments, he leveraged his money, increased his immediate cash flow by nearly 50%, and gained depreciation which he had run-out-of in Bonita Vista Mobile Home Park