Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 3.3%
  • Listing ID: 4169442
  • Posted On: Dec 13, 2023
  • Updated On: Dec 21, 2023

Description

- Incredible Value-Add Opportunity – This property enables a new investor to increase rents, fill vacancies, and bill back utilities to capitalize on a considerably greater proforma return. The sale also includes a contiguous parcel of land for potential additional value add.

- Favorable Infrastructure – Park contains all public utilities with paved roads.

- Lower Maintenance/Expenses – The park is filled with only tenant-owned homes, leaving less ongoing maintenance and expenditures for the landlord.

- Local Business – Home to a regional medical center and specialty clinics, as well as a number of retirement communities. The City hosts a number of light industries and an airport in an industrial park north of town, a rail yard, and a downtown business district typical of small western towns.

- Attractive Tourism Opportunities – La Junta is located in the beautiful Arkansas River Valley, one of the best kept secrets in Colorado, on US Highway 50 and Amtrak’s Southwest Chief Route. Koshare Museum, Bent’s Old Fort National Historic Site, Otero Museum, Comanche National Grassland, Picketwire and Vogel Canyons and the Picketwire Theater are all located in or near La Junta attracting many visitors to the town.

- Education – Excellent K-12 Academic Program consisting of 478 Students, and one of Colorado’s finest, Otero College. This college offers three exclusive housing options, housing 357 students, creating demand for off-campus housing amongst the student body.

- Family Atmosphere – Charming small-town atmosphere ideal to live, start a business, and raise a family. A community of friendly neighbors, low crime, and an excellent school system, La Junta has some of the most affordable housing options and opportunities in Colorado.

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Park Information

Community Type: All Age
Number of MH Lots: 41
Total Occupancy: 73.0 %
Average MH Lot Rent: $250
Size: 5 acre(s)

Financial Information (Actual)

Gross Income: $90,159
Operating Expense: $54,009
Net Operating Income: $36,150
Expense Ratio: 59.9 %

Utility Information

Water: City
Water Paid By: Park
Sewer: City

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