Mobile Home Park Details
- Purchase Method: Cash, Seller Financing, New Loan
- Cap Rate: 10.3%
- Listing ID: 1369004
- Posted On: Dec 15, 2020
- Updated On: Mar 23, 2021
Description
**Listing Broker: Richard Spreiser, MFI Commercial**
Link to Offering Memorandum & Public Files:
This is a unique opportunity to purchase a 100% Occupied, 8 space Mobile Home Park with 5 Apartment Units (in one building) in Tucson Arizona. This property has a low operating expense ratio, and is ready for an incoming buyer to pick up the baton.
Currently this property has 8 Park Owned Homes. Property is on City Water & Sewer with ALL UTILITIES (with exception of trash) BILLED TO TENANT!
Great Low Maintenance Property! Seller has created a sound community, and the perfect opportunity for an incoming buyer to break into the Tucson Market
Location
-- 11 Minute Drive to Tucson International Airport
-- 2 Blocks from the Tucson VA Medical Center
-- 6 Minute Drive to Walmart Super Center & Costco
-- Walking Distance to Casual Dining Restaurants
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 13 |
| Total Occupancy: | 100.0 % |
| Average MH Lot Rent: | $375 |
Financial Information (Actual)
| Gross Income: | $78,139 |
| Operating Expense: | $29,954 |
| Net Operating Income: | $48,184 |
| Expense Ratio: | 38.3 % |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Submetered |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 8 |
| Average Rent for Park-owned Homes: | $425 |