Contact Information

Property Description

HIGHLAND MOBILE HOME PARK is a 37 space manufactured home community located in Bayfield, Colorado (Durango MSA). Built in the early 2000’s, Highland is situated on 8.28 acres and is 100% occupied. The average lot rent in the community is $519 per month. Tenants are billed back for trash, water & sewer. Electric and gas is billed direct to the tenants from the providers.
The asking price of $3,500,000 or 5.70% CAP, is supported by an approximate $199,488 NOI based on the current rent roll and expenses. There are no park owned homes and occupancy has historically been 100% given the strong local demand for affordable housing. The park is managed by an on-site manager who receives free rent and whose responsibilities include collecting rent and managing day-to-day operations. Most repair work done at the property is done by off-site contractors. Highland can be delivered free and clear of existing debt.

Mobile Home Park Details

  • Price: $3,500,000
  • Purchase Method: New Loan
  • Property ID: 1020572
  • Posted on Jan 7, 2019
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Park Information

Community Type: All Age
Number of MH Lots: 37
Total Occupancy: 100.0 %
Year Built: 2002
Average MH Lot Rent: $519
Size: 8.3 acre(s)

Lot Information

Singlewide Lots: 31
Doublewide Lots: 6

Utility Information

Water Paid By: Tenant - Submetered

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