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Address is 1735 Athol Ave Henderson, NV 89011

Jeff Ferenz & Jack Cardinal

The Jeffery Ferenz Mobile Home Park Team

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The Shady Rest MHP

Mobile Home Park for Sale in Henderson, Nevada

1735 Athol Ave
Henderson, NV 89011

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Sale Price: $1,465,000
 

Contact Information

Jeff Ferenz & Jack Cardinal
The Jeffery Ferenz Mobile Home Park Team
www.coopercardinal.com

Mobile Home Park for Sale

Number of MH Lots: 28
Size: 0.9 acre(s)
Cap Rate: 8.0%
Status: Active
Property ID: 858175
Posted on: Sep 12, 2017
Updated on: Sep 12, 2017
Price: $1,465,000

Property Description

THE SHADY REST MOBILE HOME PARK IS A 28 SITE ALL AGE COMMUNITY LOCATED IN HENDERSON, NEVADA. THE PARK WAS ORIGINALLY BUILT IN 1938 AND SITS ON APPROXIMATELY 0.88 ACRES. THE SHADY REST MOBILE HOME PARK HAS ALL CITY SERVICES (ELECTRIC, GAS, WATER, SEWER AND TRASH. CURRENTLY, SELLER IS RUNNING AS A MASTER METERED PROPERTY PAYING ALL UTILITIES. THE PARK HAS SEEN SIGNIFICANT RENOVATION IN RECENT YEARS THAT INCLUDE A 100% REPLACEMENT OF ALL GAS LINES IN 2006 AND A SIGNIFICANT ELECTRICAL UPGRADE MEETING THE NEW CITY OF HENDERSON CODES, WITH 3 NEW DIGITAL METERS SERVICING THE PARK. THROUGHOUT THE PAST 10 YEARS 90% OF THE PARK’S SEWER LINES HAVE BEEN REPLACED. SHADY REST MOBILE HOME PARK HAS A MIX OF 11 MOBILE UNITS THAT HAVE NEWER COMODES AND HAVE BEEN RECENTLY PLUMBED DIRECT, THREE OF THESE UNITS ARE 2 BEDROOM/1 BATH AND THE OTHER 8 UNITS ARE 1 BEDROOM/1 BATH. THERE ARE ALSO 16 INDIVIDUAL CABINS AND ONE UPDATED 1,300 SQUARE FOOT SINGLE FAMILY RESIDENCE OFFERING 3 BEDROOMS/2 BATH. THE PARK IS FULLY PAVED AND ALSO INCLUDES TWO OVERSIZED GARAGES AND ADDITIONAL STORAGE UNITS.THE PARK’S COMMON BUILDING PROVIDES FOUR RESTROOMS, A PRIVATE WALK-IN TILED SHOWER FACILITY AND ONSITE LAUNDRY. SHADY REST MOBILE HOME PARK IS OPERATING AT 100% OCCUPANCY, AND BEEN IN THE SAME FAMILY FOR GENERATIONS. THE OWNER LIVES ONSITE AND IS CURRENTLY INVOLVED IN ALL DAY TO DAY OPERATIONS.

Park Information

Number of MH Lots:28
Total Occupancy:100.0%
Year Built:1938
Size:0.9 acre(s)

Financial Information

Gross Income$212
Operating Expense$95
Net Operating Income$116
Expense Ratio 44.8%
Debt Info

Utility Information

Water:City
Sewer:City

Park-Owned Homes

Number of Park-owned Homes:28

Amenities and Other

Laundromat: Yes
Storage: Yes


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