Mobile Home Park Details
- Purchase Method: Seller Financing
- Cap Rate: 9.3%
- Listing ID: 588506
- Posted On: Dec 7, 2015
- Updated On: Jan 14, 2016
Description
SELLER FINANCING!!!! Grande Vista is a combination RV, Mobile Home Park and Self Storage complex located in Willcox, Arizona. There are 33 RV spaces and 15 mobile home spaces. The self storage facility is comprised of 127 units with a current occupancy of approximately 77%. The property is located ½ mile off of Interstate 10 on Rex Allen Drive. Rex Allen Drive is one of the main thoroughfares in Willcox. The amenities include an office, clubhouse with kitchen, pool table, library, leased laundry facilities and restrooms with showers. The RV and Mobile Home Park are located on approximately 5 acres and were built in 1989. The Self Storage complex was built in 1995 and is on 1.08 acres. All new gas lines were installed in February 2015 to the mobile homes. SELLER FINANCING WITH $300,000 down at 6% interest, fully amortized over 20 years.
Location
Willcox is located approximately 82 miles east of Tucson, AZ. The property is located ½ mile off of Interstate 10 on Rex Allen Drive. Rex Allen Drive is one of the main thoroughfares in Willcox.
Amenities
- Laundromat
- Club House
Park Information
| Number of MH Lots: | 48 |
| Total Occupancy: | 75.0 % |
| Year Built: | 1989 |
| Average MH Lot Rent: | $440 |
| Size: | 6 acre(s) |
Financial Information (Actual)
| Gross Income: | $178,000 |
| Operating Expense: | $85,000 |
| Net Operating Income: | $93,000 |
| Expense Ratio: | 47.8 % |
| Debt Info: | Seller Financing with $300,000 down |
Lot Information
| Singlewide Lots: | 15 |
RV Information
| Number of RV Lots: | 33 |
| Average RV Lot Rent: | $325 |
Utility Information
| Water: | City |
| Water Paid By: | Park |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 11 |
| Average Rent for Park-owned Homes: | $565 |