A 2,330-square-foot mobile home in Malibu's Paradise Cove mobile home park just sold for $2 million -- cash. When listed in the spring at $2,550,000, it was the most expensive double-wide in America.
Listing agent David Carter of Pritchett-Rapf, who lives in the park himself and owns several rental units there and in neighboring Point Dume Mobile Home Park (an equally expensive place, but without Pamela Anderson as a resident) said that even at $2 million, this is the most expensive mobile home sale of the year. Back in the pre-recession days, there were sales recorded as high as $2.5 million, he said.
The unit, which has two bedrooms and two bathrooms, has a two-car garage and sits on a bluff overlooking the ocean. The mobile home parks in Malibu are located along one of the priciest stretches of land in the world and every unit has breathtaking ocean views and beach access. Plus they are surrounded by homes that start from $15 million and up, making them a relative bargain for rich people looking for a weekend getaway at the beach.
What makes a sale like this even more extraordinary is that you are buying the mobile home unit but not the land it sits on. That must be leased for a monthly fee, sometimes in excess of $2,000 per month. So basically you are buying a double-wide and the right to lease the site it sits on.
Traditional mortgages are generally not available for mobile home purchases because they aren't considered real estate, but rather personal property -- much like a car. There are no property taxes -- or property tax deductions -- either.
But $2 million for a mobile home? Guess we're not in Kansas anymore.
And neither are these upscale mobile homes pictured below -- click on the photos to see more about them:
CLARIFICATION: An earlier version of this story indicated that mortgages are not available for mobile home purchases. Some lenders do offer mobile home financing. See details here.
See other homes for sale in Malibu, Calif., on AOL Real Estate.
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