The Paradise Cove Mobile Home Park in Malibu, California is unique. The 72-acre oceanfront community is rich in history and sits atop a bluff overlooking the Pacific. It has 257 manufactured homes of all makes and models, some are simple like the modern single wide makeover we recently featured, and some are not so simple, like the home below. Still, Paradise Cove is like any other mobile home park in America. The home’s are fairly close together, positioned at a slight angle, and everyone pays lot rent. The only difference between this park and all the others in the country are the prices of the homes.
Most Expensive Mobile Home in America
Paradise Cove is known as the most expensive mobile home park in America (some even say the world). It’s always been home to the most expensive mobile home at any given time, the most recent was a double wide that sold for around $2 million. That record’s about to be broken by the home below. It just went on the market with an asking price of $3,995,000!
There are two reason’s this home is noteworthy for the rest of us who enjoy mobile and manufactured homes, other than getting to look at gorgeous homes, of course:
#1. It’s a prime example of the possibilities that our homes have.
If this home doesn’t convince you of the potential that manufactured homes have, nothing will. Of course, not all of us are millionaires but their home still started out on a chassis inside a factory, just like every other manufactured home in America.
#2. The value of the home increased by a significant amount, even though it sits in a mobile home park.
Lot’s of people think that manufactured homes can’t gain equity but that’s simply not true. Studies have proven that they can raise in value and our article called Buying a Mobile Home: They Can and Do Appreciate shares the data if you’d like to read about it. One of the variables that most affected appreciation was whether the home was located in a park or on private property but that rule isn’t set in stone.
Around 1996 this home listed for $770,000 and I’m pretty sure I read somewhere that it sold for approximately $600,000. Yes, the home is sitting on a prime oceanfront property in Malibu that’s surrounded by rich people. But it still has the chassis under it and probably the tires, too. The home is classified and taxed as a manufactured home. However, it still gained in value by over $3.3 million dollars in less than 20 years by remodeling and adding on to it.
The Malibu Real Estate Blog featured this home in an article titled ‘The World’s Nicest Mobile Home For Sale at $4m‘ so you can hop over there to read more about it and see more photos.
As always, thank you so much for reading Mobile Home Living!
Images by Berlyn Photography, 2013
Thanks for the comment, Gail! I wish every manufactured home owner could own the land under their home as well. It would remove so many issues!
I reside in a newer Champion Model manufactured home – 2/2 in Davie, Florida. The community is 55+ with lakes and canals. The home I own possess vaulted ceilings, crown molding, large rooms throughout with large closets, bathrooms and all luxuries one would desire. Only drawback – no homeowner owns the land. We must all pay a monthly lot rent. The owner of the community is a major corporation that increases the lot rent considerale ever January. If unhappy and desire to leave, one must either move the home, sell it or turn over title and keys to the office and abandon the community! Besides, no matter how well kept the home is inside and out, it can never appreciate in value – only depreciate – unlike “real” property!
Hi Robin!
I would give my left arm to live near the coast in California! I visited Malibu last year and I absolutely loved everything about it (especially the mobile homes everywhere!). There is nothing trailer trash about you or any home that costs $279,000!
I live in a similar park at the beach in Oxnard CA, about 40 miles up the coast from Paradise Cove. There is a home that just went up for sale in our park for $1.125 million. It is beachfront and 2 story. Believe it or not that might be considered a bargain for beach front living in So. Cal. We were able to buy in the same park last year for $279,000 so we feel like we got a bargain, even though the space rent is $1100 per month. Of course we are not beachfront but just a few streets back. Prices are crazy out here, but there are still bargains to be had if you are willing to consider a mobile home. We absolutely love it here and are happy to call ourselves “trailer trash”!
Thank you, Alex! I appreciate you saying that!
I love your blog! The best informative mobile home blog there is!
Wow, simply, wow.