Mobile Home Park Details
- Purchase Method: Cash, Seller Financing, New Loan
- Land: This is land for developing a mobile home park
- Cap Rate: 7.6%
- Listing ID: 553761
- Posted On: Aug 14, 2015
- Updated On: Apr 1, 2016
Description
This 95 site all age community is located just outside of Casa Grande in Pinal County. The seller repossessed this property in March of 2014. At the time, the monthly gross was just $7,200.00. Since then and as of July 2015, that figure has increased to $25,208.00 and the projections for August is $27,600.00. Keeping in mind when the owner last sold the park back in 2008, the monthly gross at closing was $45,180.00 based on the existing 95 sites. The 35 acres are zoned MHP with over 1,000 sq. ft. of footage on a main road. Drawings are available showing the 111 site expansion to 206 sites. There is a large (underutilized) recreational area that features a pool, mobile home clubhouse and common areas. The average existing site and the sites planned for the expansion are 50 x 85. The park is on all city utilities, individually metered, and a private sewer treatment plant which is just outside the property and has a capacity for 224 mobile homes. Each site is water metered; however, the owner is currently paying for the water, sewer and trash. The community is designed in a very modern way with 40 foot roads and large parking areas. There are 70+ park owned homes included in the sale.
The parcel is on the west side of Chui Chui Road just north of Interstate 8 (maps are included in my sales package).
Amenities
- Laundromat
- Pool
- Club House
Park Information
Community Type: | All Age |
Number of MH Lots: | 206 |
Size: | 35 acre(s) |
Utility Information
Water: | City |
Water Paid By: | Park |
Sewer: | Treatment Plant |