Mobile Home Park Details
- Purchase Method: New Loan
- Cap Rate: 9.3%
- Listing ID: 194108
- Posted On: Jun 13, 2012
- Updated On: Feb 22, 2013
Description
Mobile City Mobile Home and RV Park is an all-age community located a mile west of the Mesa Mall on Highway Six and 50 in Grand Junction, Colorado. The property is situated on roughly 11 acres.
Mobile City consists of 58 mobile home sites and 44 RV sites, totalling 102 sites. There is one park owned double-wide home. The average lot rent in the community is $250 per month plus add-ons. Thirty of the RV sites are for 'long-term' residents and rates vary from $375 to $525 per month plus metered electric. Television cable service has been installed to each space and is billed at $25 per month to long term RV residents. Fourteen of the RV sites are reserved for primarily for tourists and rent for $31 per night to $200 per week. These spaces are pull through wihch accomodate any length of RV or RV with trailer.
In addition to the Mobile Home and RV sites there are three apartments and one framed house on site that have been completely upgraded and are full with permenant tenants. The manager's residence and office is situated in a two story, four bedroom stucco home that has been completely remodeled and upgraded.
Amenities
- Laundromat
Park Information
Community Type: | All Age |
Total Occupancy: | 100.0 % |
Average MH Lot Rent: | $250 |
Financial Information
Gross Income: | $498,989 |
Operating Expense: | $210,002 |
Net Operating Income: | $288,987 |
Expense Ratio: | 42.1 % |
Utility Information
Water: | City |
Water Paid By: | Tenant - Submetered |
Sewer: | City |