Tahitian Terrace is located at 16001 Pacific Coast Highway, Pacific Palisades, across from Will Rogers Beach between Sunset Blvd. and Temescal Canyon. Compared to the properties in the surrounding neighborhoods, Tahitian Terrace homes are surprisingly affordable. Tahitian Terrace was built in 1963 with the concept of “terracing” which successfully captured the most incredible ocean views. There are approximately 250 manufactured homes in the community. The clubhouse has a heated pool, hot tub and weight room with cardio equipment. The recreation center has a kitchen perfect for parties, Ping-Pong, billiards, a piano and an extensive library…not to mention, gorgeous ocean views. Tahitian Terrace is pet friendly and has a dog run for dogs to exercise. The homeowners do not own the land. The land is privately owned.
The benefit of not owning the land is that the homeowners do not pay real estate property taxes, therefore avoiding the typical 1.25%when you buy a condominium or single-family residence. The owners of the homes do not pay homeowner’s association fees that are typical when buying in a condominium or townhouse community. The owners of the homes do pay rent. The rent is protected under rent control. Every time a house is sold, the rent increases 10%. Every year in October, the Board of Rent Stabilization determines if there will be a rent increase. Over the past several years the average increase has been 3%. Before buying, potential buyersfill out an application and receive park approval by park management. Once the buyers have passed credit and background checks and are approved, they must sign a lease agreement. The lease agreements are rent controlled and are month-to-month. The rights of mobile home owners are described in the Mobile Home Residency Laws which can be found on the California Department of Housing website: www.hcd.ca.gov.
Buyers can obtain loans for new and existing structures with 20% down. Lenders are available upon request. Often, new buyers choose to change the existing house by either renovating or bringing in a new manufactured home. New homes are priced from approximately $75,000. There are guidelines for building these homes. The rule of thumb is that 75% of the flat lot can be used to build a structure with a three to four foot set-back depending on if the owner is bringing in a new home or renovating the existing home. Schools in the area are highly rated. Public schools include Marquez Elementary, Paul Revere Middle School and Palisades High. Trusted vendors are available for referral upon request.
Manufactured home park in Pacific Palisades, California. This beautiful Manufacture Home Park is located right across the street from Will Rogers State Beach.
Michelle is knowledgeable and experienced, has good judgment, and she definitely put in the time that was needed to do an excellent job. "I define success as the satisfaction of knowing that I have made a difference in helping my clients attain their real estate goals."