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America's poshest trailer park where homes go for up to $5.6 MILLION is quietly sold for staggering sum
B.Martinez10 days ago
A lavish trailer park in California that offers a country-club lifestyle, ocean views and direct beach access has been sold for roughly $200 million. Pointe Dume Club, a 95-acre mobile home community in Malibu, is a prestigious neighborhood along the coast of Zuma Beach where houses are sold for an average of $2.1 million up to $5.6 million. The site on the Pointe Dume promontory is the largest privately owned oceanfront parcel in Malibu, according to the Los Angeles Times . And now, the lush property is officially changing hands for the first time since the land was purchased back in 1892. Although the sale price was never disclosed, a source familiar with the ins and outs of the deal put the sale at nearly $200 million - the highest price ever achieved by a manufactured housing company, the LA Times added. The park was sold to one of America's largest owners of manufactured housing communities, Chicago-based Hometown America Communities - which already operates nearly 80 mobile home communities spanning across 12 states. The luxurious trailer park, located on the western tip of the Santa Monica Bay and just 50 feet away from the sprawling white sands of Zuma Beach, has 297 residences. Despite new ownership, Pointe Dume will continue to operate the same as it always had. There are no plans to redevelop the park in any way. 'We're excited to add Pointe Dume to our family of communities in California,' the company said in a statement, according to the LA Times. 'Pointe Dume is a beautiful property, and we intent to manage it in the same manner as the prior owners, honor current leases and comply with all local regulations.' 'Hometown is a long-term investor, and we value the long-range viability of the market and our communities.' Amenities include a heated swimming pool, saunas, a tennis court, a basketball court, a car wash, a library, laundry facilities, a playground, a card room and a clubhouse - all in the quiet, family-friendly, 24-hour gated community. With a beach right outside the front door, a nearby school and surrounding shops and restaurants, residents are able to really get a taste of Malibu-living. You can even drive a golf cart around most of the streets surrounding Pointe Dume. An astounding estimate of 22 million people live in trailer parks across America. For many, it's an affordable way to own a home. But a beachfront home - especially one in California - is always going to come with a hefty price tag, and the lush trailer park in Malibu is no different. Pointe Dume Club is one of two mobile home communities in Malibu - the other being Paradise Cove. Paradise Cove was labeled 'America's most glamourous trailer park' by the New York Times after A-listers such as Matthew McConaughey and Pamela Anderson started snatching up the real estate, according to Love Property . Pointe Dume Club is considered to be one of the 'more affordable' options when buying Malibu real estate. But the price tags prove differently - it's a trailer park for the rich and famous. Through the years, it has become a vacation spot for many famous faces, including Bob Dylan, Julia Roberts and Owen Wilson who are currently residents of Pointe Dume, according to Robb Report. Professional Australian surfer, Stephanie Gilmore, was a woman who lived life on the road - but found a forever home in Pointe Dume Club. As long as she has a surfboard and a body of water, she's happy. She spent her years traveling but the glamorous mobile home community in Malibu was a perfect spot to settle. 'It's kind of like a little country club for mermaids of Malibu,' Gilmore said in a YouTube video by NOWNESS. Malibu is a historic spot for surfing, and with a beach right beyond her front door, there was no better place to put down roots. She even refers to the sandy beach right outside as her 'office'. This past April, Gideon Yu, Facebook's former CFO, paid $52 million for a blufftop estate in Pointe Dume - all in cash. The sale ranked as the most ever paid for a single-family house on Pointe Dume, Robb Report added. In an even bigger surprise - the massive prices only include the mobile home itself. The residents have to lease the land from the property owner after the home is bought. Although Yu's new vacation home was never actually listed on the market, houses currently for sale in the community can be browsed through on the internet. But the cheapest price tag in the neighborhood seems to be at least a million. So for now, Pointe Dume trailer park will remain as just a dream for most.
Read the full article:https://www.dailymail.co.uk/news/article-13873881/us-trailer-park-lavish-homes-sold-malibu.html
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