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Desert Gold Mobile Home Park

Manufactured Home Community for Sale in Alamogordo, New Mexico

714 Highway 70 West
Alamogordo, NM 88310

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Sale Price: $1,080,000
 

Mobile Home Park for Sale

Number of MH Lots: 23
Size: 3 acre(s)
Cap Rate: 8.0%
Purchase Method: Cash, New Loan
Status: Active
Property ID: 775278
Posted on: Jan 03, 2017
Updated on: Jan 10, 2017
Price: $1,080,000

Property Description

The park has 23 spaces with 23 park owned mobile homes. The mobile homes are 2006 and 2007 models. There are 21 3BR 2BA and 2 2BR 2BA homes. The park was built in 2006 and is well maintained. The park landscaping consists of low maintenance desert landscaping. The park perimeter is fenced with a modern block fence. The streets are paved and each space has 2 parking spaces. With 100% occupancy, the park grosses $12550. The actual occupancy is consistently around 92%.The monthly expenses consist of water bill, insurance, property tax, management, trash services and repair and maintenance. The park nets $7186 per month on average and at an 8% cap rate the selling price is $1080000. At this price the income will cover a reasonable interest rate loan as well as the monthly expenses.

Park Information

Number of MH Lots:23
Total Occupancy:92.0%
Year Built:2006
Average MH Lot Rent: $550
Size:3.0 acre(s)

Financial Information (Actual)

Gross Income$12,550
Operating Expense$5,364
Net Operating Income$7,186
Expense Ratio 42.7%
Debt Info

Lot Information

Singlewide Lots:23
Doublewide Lots:0
Triplewide Lots:0
Park Model Lots:0

RV Information

Number of RV Lots:0
Average RV Lot Rent: $0

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: $550


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