California’s 1% spending millions to live in a trailer park

A mobile home in Malibu recently hit the market asking $3.75M

TRD New York /
Aug.August 10, 2014 04:00 PM

A mobile home in Malibu recently hit the market asking $3.75M

Wealthy retirees and film industry moguls are paying millions for the privilege of living in a trailer park – albeit, one that sits on a bluff overlooking the Pacific Ocean in Malibu.

In fact, properties in the mobile-home community known as Paradise Cove routinely sell for millions.

This spring a couple purchased a two-bedroom, 1,800-square-foot trailer for $1.25 million. And months earlier, a trailer in the park — which had previously hosted actor Matthew McConaughey — sold for $2.55 million.

In July, a four-bedroom, 2,200-square-foot trailer with a hot tub and two-car garage went on the market for $3.75 million, according to the Wall Street Journal.

Conventional homes in the Malibu neighborhood can run in the $20 million to $40 million range, which partially explains the appeal of trailer park living.

And of course, these well-healed buyers aren’t sparing any expense on their mobile homes. These trailers feature hardwood floors, high-end appliances and granite countertops.

“It’s like you’re in a house in Pacific Palisades or Bel Air,” said Chuck Cohen, who recently bought in the community, said. “You just happen to be in a mobile-home park instead.” [WSJ] Christopher Cameron

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