Case Study

Foothills Solar Community

Butte Valley, CA

Whereas many investors would shy away from a rural property on private utilities (i.e. with no access to municipal water or sewer), we reconceptualized this 1970s-era mobile home park as a sustainable “solar community,” producing its own water, recycling its wastewater, and generating much of its own electric power. We invested over $1,600,000 and built a 600 kW solar power generation facility. We also installed more than a dozen new manufactured homes.

Unit Count
138

Acquisition Type
Value-add

Market Profile
Rural (Tertiary), Private Utilities

Purchase Price
$6,000,000

Sale Price
$11,450,000

Equity Multiple
2.1X

Resident Wins

Green Energy
New Manufactured Homes
New Playground
Road Improvements

Investor Wins

16.4% IRR
Bonus depreciation and federal tax credits from solar project
Steady cash distributions from operating profits