Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 4.8%
- Listing ID: 1751776
- Posted On: Sep 7, 2022
- Updated On: Oct 25, 2022
Description
Colliers is pleased to present Acacia Gardens Manufactured Housing Community and Copper Country Manufactured Housing Community and Self- Storage as a part of a two property, Arizona portfolio.
Acacia Gardens is a 193 space, all-age, fully amenitized community with a clubhouse, pool, asphalt streets, curbs, and sub-metered municipal water and sewer. The offering also includes 46 parked owned home (POHs) offered at cost and 4 notes secured by homes
in the community. This community is an excellent value-add opportunity to lease or sell POHs, increase occupancy, and bring contract rents to market.
Copper Country features an all-age manufactured home community with 191 spaces and a full amenity package including a clubhouse, pool, asphalt streets, curbs, and submetered municipal water and sewer. This community is an excellent value-add opportunity to increase occupancy through infill and absorption of
vacant storage units. The property also includes 205 self storage units which are predominately leased to MH residents.
The portfolio presents a buyer the opportunity to acquire immediate scale in one of the fastest growing States in the country at an attractive basis and short term value-add potential.
Amenities
- Laundromat
- Pool
- Storage
- Club House
Park Information
Community Type: | All Age |
Number of MH Lots: | 384 |
Total Occupancy: | 69.0 % |
Year Built: | 1968 |
Average MH Lot Rent: | $475 |
Size: | 40 acre(s) |
Financial Information (Actual)
Gross Income: | $1,930,911 |
Operating Expense: | $830,164 |
Net Operating Income: | $1,100,747 |
Expense Ratio: | 43.0 % |
Utility Information
Water: | City |
Water Paid By: | Tenant - Submetered |
Sewer: | City |
Park-Owned Homes
Number of Park-owned Homes: | 53 |
Average Rent for Park-owned Homes: | $1,000 |