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Address is 1611 Cedar Avenue/1527 Chestnut St Cañon City, CO 81212

Neil Torstenbo

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Mobile Home Park for Sale in Cañon City, Colorado

1611 Cedar Avenue/1527 Chestnut St
Cañon City, CO 81212

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Sale Price: $1,697,900

Contact Information

Neil Torstenbo

Mobile Home Park for Sale

Number of MH Lots: 57
Size: 8.3 acre(s)
Cap Rate: 10.0%
Purchase Method: Cash, Seller Financing, New Loan
Status: Active
Property ID: 459848
Posted on: Jul 23, 2014
Updated on: Mar 27, 2017
Price: $1,697,900

Property Description

PRICE JUST REDUCED TO SELL THIS YEAR!! BEAUTIFUL TREE SHADED 57 SPACES IN 2 MOBILE HOME PARKS IN SO COLORADO IN FAMOUS CANON CITY HOME OF THE ROYAL GORGE ATTRACTION. Price just reduced !!These parks features 51 units including a conc block tri-plex and 7 empty spaces on approx 8.25 acres on main highway 115 between Canon City and Florance Co. This is 2 separate Mobile Home Parks on 2 parcels across the street from each other in Canon City. All units are owner occupied and tenant owned except for the tri plex rental bldg of concrete block construction . All mobile homes are tenant owned. None are rentals. Also included are two car garage. Average NOI income for the parks is $180K yearly. Additional income available is $20K-$30K in re sale of mobile homes. N O I cap rate is approx 10% plus additional income from resale of 4-5 units each year. All bank records are available including sale of mobiles, rent rolls etc. Utilities , sewer and water are all local city/county. Taxes are approx $3750 yearly. Possible OWNER FINANCING AVAILABLE . MAKE YOUR HIGHEST AND BEST OFFER . Also available for sale is 1 acre flag lot separate parcel attached to park usable for storage or 7 more units with FULL PRICE SALE . Manager lives in one park and handles all activities including showing of units for resale, sending out monthly billing and banking deposits, collecting rents and handling any repairs with our handyman or utilities and contractors as necessary . FOR SALE BY OWNER . BROKERS ONLY WITH PRE QUAL BUYERS WITH FINANCING. Please call owner at 760-828-8484 OR EMAIL for more info.

Park Information

Number of MH Lots:57
Total Occupancy:90.0%
Year Built:1960
Average MH Lot Rent: $355
Size:8.3 acre(s)

Financial Information (Actual)

Gross Income$242
Operating Expense$62
Net Operating Income$180
Expense Ratio 25.6%
Debt Infounderlying $550K

Lot Information

Singlewide Lots:54
Doublewide Lots:3
Triplewide Lots:0
Park Model Lots:0

RV Information

Number of RV Lots:2
Average RV Lot Rent: $355

Utility Information

Water Paid By: Park

Park-Owned Homes

Number of Park-owned Homes:4
Average Rent for Park-owned Homes: $405

Amenities and Other

Storage: Yes

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