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Mobile Home Park Details

  • Price: $2,400,000
  • Purchase Method: Seller Financing
  • Cap Rate: 7.5%
  • Listing ID: 4392116
  • Posted On: Feb 7, 2024
  • Updated On: Feb 14, 2024

Description

Desert Retreat is perfectly positioned to capitalize on the growing
demographic trends stemming from immigration, presenting a unique opportunity for profit and growth.

Diversified Revenue Stream
Spanning 34 units, which include long-term RV spaces, mobile home spaces, a duplex, 2 single-family homes,
1 park-owned 3 bedroom, and a 2 bathroom 2019 Cavco Mobile home is included in sale (14x17 ft). Desert
Retreat also boasts two commercial spaces, housing a restaurant and a salon. These commercial facets provide
diversified income streams, enhancing the appeal for savvy investors. Included in the sale is a brand new, parkowned,
Single-wide 2019 Cavco 3-bed/2-bath RV, the only park owned site on the property.

Sticky Tenant Base
The tenant community is what sets Desert Retreat apart. There's a palpable pride of ownership with a
remarkable track record of 100% occupancy and no unpaid rents separating this property from the overall
mobile home park market in Tucson.

Excellent Infrastructure
Infrastructure is robust with electrical systems enclosed in conduit and dependable ABS plastic piping for the
sewer. Efficient electricity management through Tucson Electric Power and water provisions by the City of
Tucson further bolster its operational excellence. Gas is also direct billed and all gas lines are owned by the utility
company,
Sewer inspection and necessary repairs were finalized in October 2023, with a comprehensive video and report
available for potential buyers. The owners have invested $50,000 in sewer maintenance and repairs, ensuring
the sewer system is in excellent working order, backed by a two-year warranty. Notably, the sewer is constructed
with ABS piping, a heavy-duty and highly reliable choice favored by plumbers for its durability and performance.

Below Market Rents
The park also boasts substantially below-market rents, offering upward potential for revenue. Add to this the
possibility of converting the office into a studio, renting out the garage for storage, and additional value add
opportunity in paving the roads.
The lively neighborhood of South Tucson, teeming with authentic Mexican eateries, traditional craft shops, and a
mix of modern conveniences, provides an unmatched backdrop. Coupled with its closeness to major landmarks,
Desert Retreat is strategically positioned.

Location

Situated in South Tucson, just a stone's throw from the Tucson International Airport ensuring unparalleled ease of access, especially for out-of-state investors.

Amenities

  • Laundromat
  • Storage
  • Handicap Accessible
Interested in purchasing this mobile home park? Get pre-qualified for a loan.

Park Information

Community Type: All Age
Number of MH Lots: 35
Total Occupancy: 100.0 %
Average MH Lot Rent: $330
Size: 2 acre(s)

Financial Information (Pro Forma)

Gross Income: $2,858,909
Operating Expense: $0
Net Operating Income: $0
Debt Info: -

Lot Information

Singlewide Lots: 24

RV Information

Number of RV Lots: 10
Average RV Lot Rent: $330

Utility Information

Water: City
Water Paid By: Tenant - Submetered
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 4
Average Rent for Park-owned Homes: $775

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