Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 9.0%
- Listing ID: 417135
- Posted On: Dec 3, 2013
- Updated On: Mar 22, 2014
Description
THE PURCHASE PRICE SUPPORTS A 9.0 CAP!! OWNER IS READY TO SELL!! 55+TENANTS!! This 204 site RV Park is located just south of Interstate 8 off of the Araby Road exit in Yuma. The 12 acre parcel has a large front footage on Highway 80 or more commonly known as 32nd Street. There is a traffic light at the main entrance. All of the electrical pedistals range from 50 to 75 amperage. The size of each site within the property goes from 28 X 45 to 33 X 50. The community is on a septic system with 17 tanks. The common area is comprised of a small clubhouse that has been recently renovated + a separate building that houses a new laundry (12 washers / 12 dryers) and his/hers showers. The streets are gravel with flat concrete curbing and the landscaping throughout the park is stone. The existing financing (Apx. $1,300,000.00) is non assumable and due on sale and must be cashed out by the purchaser. The seller might consider carrying a portion of his equity in order to get a deal done.
Please keep in mind these pictures were taken in October well before the season started.
Amenities
- Laundromat
- Club House
Park Information
Community Type: | 55 And Over |
Number of MH Lots: | 204 |
Year Built: | 1991 |
Size: | 12 acre(s) |
Financial Information (Actual)
Gross Income: | $404,534 |
Operating Expense: | $157,869 |
Net Operating Income: | $246,665 |
Expense Ratio: | 39.0 % |
Debt Info: | Cash or Lender Financing |
RV Information
Number of RV Lots: | 204 |
Utility Information
Water: | City |
Water Paid By: | Park |
Sewer: | Septic |