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Mobile Home Park Details

Purchase Method: Cash, New Loan
Cap Rate: 8.3%
Listing ID: 547252
Posted On: Jul 13, 2015
Updated On: Oct 25, 2015

Description

74-Space MH & RV Park, located just 10 min. from Albuquerque (and 25 min. from Santa Fe)!! Clubhouse, Office, Rec Room w/Pool Table, Laundry, Restrooms/Showers & More!! Beautiful park in excellent condition. HUGE UPSIDE in filling five (5) vacant MH lots and an additional seven (7) sites w/o utilities. Only one (1) park-owned MH (mgr), otherwise ALL are "tenant owned" units, no rentals. Gorgeous park with HUGE UPSIDE!!

Just off I-40 (Exit 178 "Zuzax") on south side of "Route 66 Hwy" (NM 333). one mile west of Zuzax exit on south side of Route 66.

Amenities

Laundromat
Storage
Club House

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Park Information

Community Type:	All Age
Number of MH Lots:	74
Total Occupancy:	80.0 %
Year Built:	1972
Average MH Lot Rent:	$325
Size:	12 acre(s)

Financial Information (Actual)

Gross Income:	$219,587
Operating Expense:	$112,794
Net Operating Income:	$106,793
Expense Ratio:	51.4 %
Debt Info:	New Loan Amt $895K (w/$400K Dn)

Lot Information

Singlewide Lots:	34
Doublewide Lots:	40

RV Information

Number of RV Lots:	34
Average RV Lot Rent:	$350

Utility Information

Water:	Well
Water Paid By:	Park
Sewer:	Septic

Park-Owned Homes

Number of Park-owned Homes:	1
Average Rent for Park-owned Homes:	$650

Tijeras MH & RV Park 768 Nm 333, Tijeras, NM 87059

Expired