Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park

Mobile Home Park Details

  • Purchase Method: Cash
  • Cap Rate: 6.7%
  • Listing ID: 473413
  • Posted On: Oct 3, 2014
  • Updated On: Dec 30, 2021

Description

This mobile home park is a 58 site all age community built in 1971 in a desirable neighborhood of West Tucson. Park includes 46 MH sites, 12 RV sites and 3 apartment rentals (plus office) on a total of 4.6 acres. The community has good curb appeal with well manicured landscaping, wide paved roads, pole-mounted street lighting, and mature trees throughout.
Amenities include an office, community swimming pool, laundry room, guest parking, shower facility and BBQ and picnic area. The park has block wall perimeter fencing and a wrought iron security fence with self closing gates at community pool.
This park has all City services and direct metered for electric and gas with submetered water for the MH sites and submetered for electric, gas and water for RV Sites. Owner provides free cable and trash and sewer are a pass-through to the residents.

NOTES:
-The income of $27,826.82 from the MH contracts is not included in the NOI.
-Increase in CAP Rate by reducing expenses in cancelling cable contract. Projected Cap Rate of 7.4%.

Amenities

  • Pool
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Park Information

Community Type: All Age
Number of MH Lots: 62
Total Occupancy: 79.0 %
Year Built: 1971
Size: 5 acre(s)

Financial Information (Actual)

Gross Income: $263,448
Operating Expense: $109,456
Net Operating Income: $153,992
Expense Ratio: 41.5 %

Utility Information

Water: City
Sewer: City

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