Mobile Home Park Details
- Purchase Method: New Loan
- Cap Rate: 8.5%
- Listing ID: 470799
- Posted On: Sep 15, 2014
- Updated On: Jan 20, 2015
Description
The Arizonan MHP is a 63 space, all age park located on the Northwest side of Tucson, AZ. The property is comprised of 25 resident owned homes, 26 homes being sold on contract, 11 rental homes and one vacant space. The property is very clean and well maintained with no deferred maintenance. The park is on city water, sewer and is directly billed for gas. The electric and water is mastered metered with separate meters at each space. The resident also pays for monthly trash collection. The Buyer must purchase the MH contracts and park owned homes separately. The value of the MH contracts are worth over $200,000 and the park owned rental homes are valued at over $100,000. The MH contracts bring in approximately $80,000 per year and are not included in the NOI.
Location
The property is located near Interstate 10 , the main thourough fare between Tucson and Phoenix. It is convienently located near shopping centers, banks, hospitals, and the University of Arizona.
Amenities
- Laundromat
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 63 |
| Total Occupancy: | 95.0 % |
| Year Built: | 1953 |
| Average MH Lot Rent: | $395 |
| Size: | 5 acre(s) |
Financial Information (Actual)
| Gross Income: | $349,399 |
| Operating Expense: | $170,866 |
| Net Operating Income: | $178 |
| Expense Ratio: | 48.9 % |
| Debt Info: | 1050000 |
Lot Information
| Singlewide Lots: | 63 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Submetered |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 11 |
| Average Rent for Park-owned Homes: | $450 |
