Mobile Home Park Details
- Purchase Method: Seller Financing
- Cap Rate: 6.7%
- Listing ID: 867497
- Posted On: Oct 11, 2017
- Updated On: Oct 31, 2017
Description
SELLER FINANCING with 25% down payment: Walnut Grove MHP is a 64 unit, all age community located in Sierra Vista, AZ. The property is comprised of 57 MH space, 6 RV spaces, and a single family dwelling. There are 23 park owned homes included in the sale. This is not a junk mobile home park, but one that needs more hands on management. There is excellent upside potential by leasing up vacant sites and homes. There are approximately 30 vacant sites. The gas and electric are directly billed to the resident and it is on city water and sewer. There is a 16 unit apartment complex that can be purchased separately..The park pays for water, sewer and trash. The Seller is out of state and will consider all reasonable offers.
Location
Sierra Vista is located approximately 70 mile south east of Tucson. It is home to Fort Huachuca, a US Army base.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 57 |
| Total Occupancy: | 53.0 % |
| Year Built: | 1961 |
| Average MH Lot Rent: | $330 |
| Size: | 8 acre(s) |
Financial Information (Actual)
| Gross Income: | $146,529 |
| Operating Expense: | $80,015 |
| Net Operating Income: | $66,514 |
| Expense Ratio: | 54.6 % |
| Debt Info: | none |
Lot Information
| Singlewide Lots: | 57 |
RV Information
| Number of RV Lots: | 6 |
| Average RV Lot Rent: | $300 |
Utility Information
| Water: | City |
| Water Paid By: | Park |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 23 |
| Average Rent for Park-owned Homes: | $500 |
