Contact Information
Waylon Grubbs
Mobile Home Park Details
- Price: Call for Price
- Listing ID: 6826384
- Posted On: Feb 17, 2025
- Updated On: Feb 17, 2025
Description
We are pleased to present for sale Creekside at Manitou Springs MHC, located in the bustling resort town of Manitou Springs, CO. Creekside is a 43 unit all-age, City Water, City Sewer, community offering its tenants a beautifully remodeled community complete with new road infrastructure, new signage, remodeled office, remodeled SF home and duplex. Ownership was committed to restoring this community to its full potential. The community boasts a 90% occupancy rate and ownership has left ̀ three usable sites for the next investor to add value. The unusable sites (2) at the
community can be brought online by cutting some large trees and purchasing the right size home for the smaller lots. Other value metrics include passing through the trash charge and the ability to increase rents to offset expense escalations in the future.
Creekside at Manitou Springs is being offered unpriced. Current ownership is retiring from the business and has stated they are NET sellers at a market price. All market offers will be considered, call for details. NO SELLER FINANCING AVAILABLE.
Location
Manitou Springs is a resort city in Colorado, bordering the city of Colorado Springs. It’s known for its mineral springs, its mountain landscapes, dominated by soaring Pikes Peak, and it close proximity to "Garden of the Gods" national park. The Manitou Cliff Dwellings are a group of reassembled ancient cliff structures.
Hundreds of steps lead up a steep slope on the Manitou Incline Trail. Manitou Avenue is home to art galleries and specialty boutiques. The community is located a few hundred yards from the main thoroughfare connecting Manitou Springs to Interstate 25. Within the last few years multiple newly constructed Multi-family projects have been completed directly adjacent to or across from the property. Due to its location, Creekside will maintain a stable,
consistent occupancy with little to no paid advertising necessary.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 43 |
| Total Occupancy: | 90.0 % |
| Average MH Lot Rent: | $829 |
| Size: | 3 acre(s) |
Financial Information (Actual)
| Gross Income: | $402,215 |
| Operating Expense: | $159,085 |
| Net Operating Income: | $243,130 |
| Expense Ratio: | 39.6 % |
Lot Information
| Singlewide Lots: | 30 |
| Doublewide Lots: | 0 |
| Park Model Lots: | 10 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - RUBs |
| Sewer: | City |
