Mobile Home Park Details

  • Purchase Method: Cash, Seller Financing
  • Cap Rate: 14.0%
  • Listing ID: 428864
  • Posted On: Mar 17, 2014
  • Updated On: Mar 15, 2016

Description

Looking for cash flow rentals? This is easy to manage and always full !
1500 S Warner Drive, Apache Junction, AZ 85120 (Pinal County)
Owner will Carry for 3 Years with $75,000.00 Down 10% Interest Only with Ballon
Or Pay cash and have no Note!

Find out more about 1500 S Warner Drive, Apache Junction
Description Great Cash Flow Rental Location , 9 Rental Units for Less then the average 4 Plex
Property is updated with 4 current rental units filled . There are two parcels with this property. 102-14-020A & 102-14-019 Warner Rd in Apache Junction is a popular rent area in this price range, this area would be a lower rent scale of 400 to 650 per month , we have turned down multiple renters after we filled the home and park mobile unit.
1 More Unit can be added to park with an added electric pedastal which will bring in an additional 400.00 per month,

I also own the adjacent park 1422 S Warner Drive , I will sell both parks for $399,000.00 to a cash buyer or buyer with lending in place.

Interested in purchasing this mobile home park? Get pre-qualified for a loan.

Park Information

Community Type: All Age
Number of MH Lots: 9
Total Occupancy: 100.0 %
Year Built: 1975
Average MH Lot Rent: $399
Size: 1 acre(s)

Financial Information (Actual)

Gross Income: $3,400
Operating Expense: $850
Net Operating Income: $2,550
Expense Ratio: 25.0 %

Lot Information

Doublewide Lots: 1

RV Information

Number of RV Lots: 8
Average RV Lot Rent: $250

Utility Information

Water: City
Water Paid By: Park
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 6
Average Rent for Park-owned Homes: $399