Garden Spot Mobile Home Park - for Sale in Mesa, Arizona
56 S Barkley
Mesa, AZ 85204
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Mobile Home Park for Sale |
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| Cap Rate: | 10.0% |
| Purchase Method: | Seller Financing |
| Status: | Sold |
| Property ID: | 107786 |
| Posted on: | Nov 07, 2011 |
| Updated on: | Jan 13, 2012 |
Property Description
Garden Spot MHP: 58 Spaces plus 2 homes & 1 Commercial on 2.6 acres +- priced at: $1,050,000 with $262,500 Down to a Seller Carried First (7% / Amtz 30 Yrs/Due 15 yrs). $17,213 per pad / 10% Cap Rate/ 16% Cash Flow! Low Rents. Substantial Upside in passing thru Utility Costs!
A Cash Cow with Huge Upside and R-4 Zoning!!!
Location Description
Great Mesa Neighborhood location just 20 minutes from Sky Harbor!
Park shows pride of ownership! Numbers show pride of cash flow!
Financial Information
| Gross Income | $217,042 |
| Operating Expense | $112,295 |
| Net Operating Income | $104,747 |
| Expense Ratio | 51.7% |
| Debt Info | Owner Will Carry a new 1st of $787,500 at 7% amortized 30 yrs / due 15 yrs: pmt $5,239 mo. |