Mobile Home Park Details

  • Purchase Method: Cash, Seller Financing
  • Cap Rate: 4.5%
  • Property ID: 1300819
  • Posted On: Aug 4, 2020
  • Updated On: Sep 3, 2020

Property Description

Carousel Ranch MHC is a 55 +community, comprised of 84 MH spaces, 8 RV sites, 2 apartments and a commercial office. Current owners have spent thousands in upgrading the community for the residents enjoyment. Included in the sale price are 14 manufactured homes from 2018 and 2020. Seven of these homes are currently rented and seven are for sale. The property is on municipal water supply and City of Tucson Sewer. The 4.5% cap rate is based upon the community value only. The approximate cost of the manufactured homes is $850,000.

Location

The community is located on 9 acres of prime commercial property, in close proximity to the Tucson Mall and surrounding businesses.

Amenities

  • Pool
  • Club House
  • Handicap Accessible
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Park Information

Community Type: 55 And Over
Number of MH Lots: 84
Total Occupancy: 65.0 %
Year Built: 1960
Average MH Lot Rent: $455
Size: 9 acre(s)

Financial Information (Pro Forma)

Gross Income $417,520
Operating Expense $191,541
Net Operating Income $225,979
Expense Ratio 45.9 %
Debt Info

RV Information

Number of RV Lots: 8
Average RV Lot Rent: $455

Utility Information

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

Park-Owned Homes

Number of Park-owned Homes: 14
Average Rent for Park-owned Homes: $800

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