Famed fashion designer, Betsey Johnson, recently purchased an approximately 1,500 square foot mobilehome in what some have deemed “America’s Most Glamorous Trailer Park.” The previous asking price of the mobilehome was just under $1.95 million. Johnson purchased the mobilehome in a community called Paradise Cove, which is located in Malibu, California. The community, which has previously been home to actors such as Matthew McConaughey, is known for its prime location on a bluff overlooking the Pacific Ocean and its multi-million-dollar properties.
These mobilehomes, however, are not the inexpensive housing option that many people think of when they hear the term “mobilehome” or “manufactured home.” Instead, many of the homes at Paradise Cove are equipped with high-end appliances, granite countertops, and hardwood floors. Johnson’s new home is no different.
As we’ve noted before, the landscape of the manufactured housing industry continues to change primarily based on the geographic location of the communities, the pricing of the surrounding neighborhoods, and the demand from retirees and younger buyers. While it remains to be seen how the manufactured housing industry will perform throughout the state and the country, with over thirty-five (35) years of experience, our attorneys are equipped to address any issue that your mobilehome park may be experiencing.
Ariel Bedell is a Shareholder at The Loftin Firm. For questions relating to any other California real estate, corporate governance, land use, or estate planning matter, contact Ms. Bedell at 760-814-9649.