Mobile Home Park Details
- Purchase Method: Cash, Seller Financing, New Loan
- Cap Rate: 10.5%
- Listing ID: 407928
- Posted On: Oct 8, 2013
- Updated On: Dec 30, 2021
Description
Miracle RV Park consisting of 84 spaces and 1 mobile home with great potential for more income. This property is centrally located in prime Tucson location near malls, bus lines, shopping centers, and much more. This park makes for a very easy to operate and maintain investment. All paved road park. Club house/Office amenities are; pool table, lounging area, library, cable TV and internet.
The park is priced to sell at over a 10.56% Cap Rate based on actuals and offering great cash on cash return for a new investor. Depending on the price and terms the owner may be willing to carry the financing on the property.
There are two spaces currently occupied by the owner and his family with no rent collected. There is great upside for new owner.
Maintenance and Security for the park is provided by two individuals who receive free rent and electric.
Please do not disturb tenants! Contact LA!
Location
West-Central location close to Tucson Mall.
Amenities
- Club House
Park Information
| Community Type: | 55 And Over |
| Number of MH Lots: | 85 |
| Total Occupancy: | 70.0 % |
| Year Built: | 1973 |
| Average MH Lot Rent: | $322 |
| Size: | 3 acre(s) |
Financial Information (Actual)
| Gross Income: | $236 |
| Operating Expense: | $120 |
| Net Operating Income: | $115 |
| Expense Ratio: | 50.8 % |
RV Information
| Number of RV Lots: | 85 |
| Average RV Lot Rent: | $322 |
Utility Information
| Water: | City |
| Water Paid By: | Park |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 1 |
| Average Rent for Park-owned Homes: | $585 |