11819 Yosemite Boulevard

Waterford, CA 95386

Space in the Shade Mobile Home Park is a stabilized, 50-space community offering consistent income in Waterford, California centrally located in the Modesto metropolitan area with direct access to Highway 99 and Interstate 5. The park comprises 41 mobile home spaces, 11 RV spaces, and one single-family home occupied by the on-site manager. The park holds a valid HCD permit for 49 mobile home spaces and is 100% occupied. A $40/month rent increase took effect July 2026, providing immediate income upside from day one of ownership. City Annexation Recently Approved. In May 2026, the Stanislaus Local Agency Formation Commission (LAFCO) approved LAFCO Application No. 2026-02 the Fahmy Annexation bringing 43.27 acres at the northeast intersection of North Eucalyptus Avenue and Yosemite Boulevard (State Highway 132) into the City of Waterford. The annexation includes the Space in the Shade MHP parcel and adjacent lands. Development Potential Significant Value-Add Opportunity. Annexation into the City of Waterford is a transformative event for this parcel. City incorporation transfers zoning authority from Stanislaus County to the City of Waterford, unlocking access to urban land use designations and municipal entitlement pathways that are unavailable to unincorporated county land. For a patient or development-oriented buyer, this creates a dual-asset opportunity: the park generates stable, 100%-occupied cash flow at a 5.31% cap rate today, while the newly incorporated 6.13-acre Yosemite Boulevard parcel adjacent to schools, positioned on a state highway corridor, and now within city limits carries meaningful long-term residential or mixed-use redevelopment potential. Waterford's Yosemite Boulevard Corridor Study (2023) identified this stretch of SR-132 as a priority area for future growth, further supporting the case for land value appreciation above and beyond the park's income value. Buyers seeking both current yield and a future development optionality play will find this combination rare in the Central Valley market.

Listing courtesy of Aaron McCann of Monument Real Estate, Inc.



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Last checked: 2026-09-24 01:45 PM UTC