Mobile Home Park Details
- Purchase Method: Cash
- Cap Rate: 9.1%
- Listing ID: 555667
- Posted On: Aug 26, 2015
- Updated On: Nov 2, 2015
Description
This 50 site RV & MHP wraps the northwest corner of Ironwood and the Apache Trail close to downtown Apache Junction. There is an existing note which is non assumable of apx. $370,000.00. The sellers will NOT CARRY PAPER!! The park is on a septic system and by law the owners will have to provide a purchaser with an Arizona Department of Environmental Quality certification on each tank before close of escrow for their review. The electric is master metered with a sub meter read back. The owner purchased the property in August of 1997 and has been paying the sewer district a monthly fee so if he ever elected to tap into the sewer the cost would be much lower. All of the RV’s/MHP’s are tenant owned. The park is not water metered but the owner does charge the tenants for trash. There is a small laundry room with 2 washers and 2 dryers which are park owned and will be transferred to the buyer before closing. The property is located within a flood zone and flood insurance will be required. Also there is a billboard located near the entrance of the park which brings in additional income. The on-site manager receives free rent and utilities only.
The owners reside in Florida and this property has become very difficult for them to manage from across the country. They are MOTIVATED to sell!!!! Just as a heads up to attempt to get financing on your acquisition will be very difficult on a property of this nature. The best course of action is to purchase on an all cash basis, do your renovation then pull your money out!!!
Amenities
- Laundromat
Park Information
Number of MH Lots: | 50 |
Year Built: | 1966 |
Size: | 3 acre(s) |
Utility Information
Water: | City |
Water Paid By: | Park |
Sewer: | Septic |