Paradise Cove has become one of the most sought after neighborhoods in Malibu this last year. Once called Malibu’s best kept secret, Paradise Cove is no longer anyone’s secret and the recent sales and lack of inventory prove it. In fact, things are so hot in Paradise Cove that numerous sales have taken place without ever hitting the MLS over the last few months. There is no cheaper way to live this close to the water!
Last year, I sold a mobile home in the lower section of the park for $565,000. It was a small, two-bedroom, but very nicely done and people had their doubts that it would sell above $500,000. We did sell it though – and at almost the full asking price.
Right now, I’ve got another place in escrow at $1,250,000 and it was the only place for sale in the upper sections where the larger homes are located. A 2 bedroom with no ocean view.
Today, I listed I listed one the largest mobile homes for sale in Paradise Cove for $1,975,000. Located on one of the most private streets in Paradise Cove, the home features 3 large bedrooms and a bonus loft above the garage that could be another bedroom or an office. The home has some ocean views and offers a rare feature not common in the Cove…..a full garage.
Here is the best part about Paradise Cove…..there is no property tax, no water bill, no gardner bill (or minimal), and no septic to maintain because you lease the land. Think about this…A $2m home in Malibu Park will have about $20,000 in property taxes, about $5000 for water, $4000 for gardner, $3000 for insurance, and let’s say about $3000 a year in misc repair. That’s almost $35,000 a year….a God forbid your septic fails….add another $80,000 right there to replace the system which can fail after 30 plus years.
From the MLS “Rare opportunity to buy one of the larger manufactured homes in the upper bluff section of Paradise Cove. Newer model located on the most private street just a few hundred feet from the waters edge. Craftsman style with board and bat wood exterior, custom rock skirting, and tall windows . 3 large bedrooms, plus bonus loft w/ open floor plan, high ceilings, and numerous skylights. Large chefs kitchen w/ stainless appliances, oversized island, ample storage, and ocean view window above kitchen sink. Large, professionally landscaped backyard w/ premium synthetic grass, newer spa, and raised beds full of mature fruit, citrus, & avocado trees. 1 car garage with room for an additional 3 cars in driveway. Custom built, dual outside showers for post surf rinse off and storage for surf boards and kayaks. Private beach located 1 minute away via golf cart trail. The most affordable way to live at the beach in Malibu! Buyer to determined new space rent w/ park management. Approx. $2645 per month.”
Call Mike Gardner at 310-699-8428 for more information about this unit and about the park in general.
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