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Mobile Home Park Details

  • Price: $2,750,000
  • Property ID: 1268226
  • Posted On: Jun 8, 2020
  • Updated On: Jun 8, 2020

Property Description

West Mesa Trailer Park is a 42 site community featuring 34 MHC sites, 7 cabins, and 1 house. The property was built in 1935. Utilities are paid by the resident and provided by the city of Mesa. Asset highlights include: Located along Metro Light Rail, Situated in Opportunity Zone, Minutes from major economic drivers in Mesa, Phoenix, and Chandler, Average annual site rental rates are below submarket, and Stable operations with 96% occupancy.

Location

West Mesa Trailer Park is located at 835 West Main Street in Mesa, Arizona with easy freeway access to Loop 101 located two miles west of the property, provides a convenient commute to Downtown and Tempe. The Main Street Metro Light Rail provides additional transportation options for residents at the property. West Mesa Trailer Park is also close to major employers and points of interest, including schools, shopping, dining, recreational facilities, and transportation networks.

The immediate neighborhood surrounding West Mesa Trailer Park comprises a mixture of single-family homes, multifamily projects, and commercial developments. Located in the central corridor of Mesa, residents have easy access to several popular golf clubs including the Westgate Painted Mountain Golf Resort, the Longbow Golf Club, the Alta Mesa Golf Club, and the Las Sendas Golf Club. Nearby grocery store options along Main Street include Safeway located at Dobson Road and Fry’s Food and Drug Store located at Alma School Road, both located less than one mile west of the property. Additionally, Mesa Grand Shopping Center including Walmart Supercenter, Stonehenge Center, Starbucks, AMC Mesa Grand 14, and Michaels are all located five miles southeast of West Mesa Trailer Park. There are a number of shopping centers surrounding Deserama including the Macy’s anchored Superstition Springs Center located ten miles southeast of the property, and Marshalls anchored Mesa Riverview, two miles north of the property.

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Park Information

Number of MH Lots: 42
Total Occupancy: 95.0 %
Year Built: 1935
Average MH Lot Rent: $478
Size: 2 acre(s)

Financial Information (Pro Forma)

Gross Income $240,900
Operating Expense $134,487
Net Operating Income $175,676
Expense Ratio 55.8 %
Debt Info

Utility Information

Water: City
Water Paid By: Tenant - RUBs
Sewer: City

Park-Owned Homes

Average Rent for Park-owned Homes: $478

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