Mobile Home Park Details
- Purchase Method: Cash, Seller Financing
- Cap Rate: 4.5%
- Listing ID: 1300819
- Posted On: Aug 4, 2020
- Updated On: Sep 3, 2020
Description
Carousel Ranch MHC is a 55 +community, comprised of 84 MH spaces, 8 RV sites, 2 apartments and a commercial office. Current owners have spent thousands in upgrading the community for the residents enjoyment. Included in the sale price are 14 manufactured homes from 2018 and 2020. Seven of these homes are currently rented and seven are for sale. The property is on municipal water supply and City of Tucson Sewer. The 4.5% cap rate is based upon the community value only. The approximate cost of the manufactured homes is $850,000.
Location
The community is located on 9 acres of prime commercial property, in close proximity to the Tucson Mall and surrounding businesses.
Amenities
- Pool
- Club House
- Handicap Accessible
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Park Information
| Community Type: | 55 And Over |
| Number of MH Lots: | 84 |
| Total Occupancy: | 65.0 % |
| Year Built: | 1960 |
| Average MH Lot Rent: | $455 |
| Size: | 9 acre(s) |
Financial Information (Pro Forma)
| Gross Income: | $417,520 |
| Operating Expense: | $191,541 |
| Net Operating Income: | $225,979 |
| Expense Ratio: | 45.9 % |
RV Information
| Number of RV Lots: | 8 |
| Average RV Lot Rent: | $455 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Submetered |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 14 |
| Average Rent for Park-owned Homes: | $800 |