Contact Information

Todd Fletcher

ARA MHC Group

Mobile Home Park Details

  • Price: $630,000
  • Property ID: 1142683
  • Posted On: Oct 9, 2019
  • Updated On: Oct 9, 2019

Property Description

Portfolio Highlights:

• Opportunity to purchase two value-add properties less than a half-mile from each other on public utilities and a total of 67 sites.
• Asking price is significantly below replacement cost.
• New owner will have the ability to retain all personnel at the communities.
• Both parks have inventory homes that can be rehabbed by a new owner and
rented or sold to quickly increase occupancy.
• The park could benefit substantially from the implementation of a home rental
program. Current owner’s operating strategy is only to sell homes and a big factor in why they are selling these parks since it’s a rental market. Filling just 5 sites at each park would add $33,420 in annual site rent with minimal increase to expenses.
• Hemp production is accelerating quickly across Colorado and farming
communities such as La Junta are set to benefit. In 2017 there were 7,500 acres of hemp planted in Colorado and industry experts expect that number to be well over 100,000 acres in 2019.
• Folium Biosciences, the largest vertically integrated producer, manufacturer and distributor of CBD, maintains a 70,000 square foot processing plant in La Junta in a former Walmart building adjacent to Hillside MHC.

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Park Information

Community Type: All Age
Number of MH Lots: 67
Size: 10.0 acre(s)

Park-Owned Homes

Number of Park-owned Homes: 8

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