Contact Information

Mobile Home Park Details

  • Price: $1,250,000
  • Purchase Method: Cash, Seller Financing
  • Cap Rate: 7.1%
  • Property ID: 1320859
  • Posted On: Sep 8, 2020
  • Updated On: Sep 16, 2020

Property Description

Midway RV/MH Park is an all age Community located in Black Canyon City, Arizona. The Park was originally built in 1960 and sits on approximately 3.09 acres. The Park is comprised of 39 Sites and a fully fenced and gated Commercial Storage Yard that can house approximately 14 vehicles. Electric is direct billed to five Sites. The remaining Sites are sub-metered and billed back (.17/Kwh). The Sites offer 30/50 AMP electrical service to pedestal units. The Park is on City Water provided by a private municipal water company (Black Canyon Water Improvement District). Water is direct billed to two Sites. The remaining Sites are sub-metered and billed back ($7.05/1,000 gallons). The Community is on a Septic System with two Tanks and one Leach Field. There is a flat monthly fee for Trash ($12). Gas is Propane. All Homes are Tenant Owned and there are currently no Homes under Contract for Sale. Recent Capital Improvements include the installation a new 4” Sewer Main and a new sewer line between Sites 7 and 23 in June 2020 ($7,550). The most recent rent raise occurred in early 2019 for varying amounts. The Community has a Laundry Facility with 2 Washers/2 Dryers and the equipment is park owned. The Park has experienced onsite management. Midway has been well maintained and is a solid entry level investment opportunity! SELLER CARRY TERMS AVAILABLE.

Amenities

  • Laundromat
  • Storage
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Park Information

Community Type: All Age
Number of MH Lots: 39
Year Built: 1960
Size: 3 acre(s)

Financial Information (Actual)

Gross Income $157,868
Operating Expense $68,608
Net Operating Income $89,261
Expense Ratio 43.5 %
Debt Info

Utility Information

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

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