Sunny South Mobile Home Park was a derelict park with only ten active tenants and a sordid past. Trevor Hall heard it was being foreclosed and contacted the note holder. Due to Trevor's contact with Roger Chapin as Orange County Charter Review Commissioners and prior work with Mears CFO Tim Baker he knew they were looking to add to their nearby holdings.

Challenges:

• Zoning was residential. it took some discussion with the City to see if that area was suitable for change in zoning and adaptive reuse.
• Access to the street in the rear, Rio Grande was via an easement insufficient for anything other than servicing a mobile home park.
• Owner of the tract on Rio Grande had numerous judgments encumbering the title against him and others with the same name.

Services Provided:

• Worked with the City to underwrite risk of rezoning.
• Researched four other alterntatives while pursuing the rear frontage piece on Rio Grande.
• Worked with title company to clear up the title issues and judgments or satisfy with money at closing.

Results:

After researching alternatives for access to Rio Grande, Trevor and client eventually put that tract under an agreement through an untraceable company so there would be no connection to the buyer of the park. That price was $340,000. Price for both parcels was $1,680,000 for 10.014 acres ($167,765 per acre, $3.85/sf land).

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