Contact Information

Mobile Home Park Details

  • Price: $649,000
  • Purchase Method: Cash, New Loan
  • Cap Rate: 6.7%
  • Property ID: 1369062
  • Posted On: Dec 16, 2020
  • Updated On: Dec 16, 2020

Property Description

Winter Haven Mobile Home and RV Park is a 24 Site 55+ Community located in Truth or Consequences, New
Mexico. The Park was built in 1978 and sits on approximately 2.98 acres. The Park is comprised of 13 Mobile Home Sites and 11 RV Sites. Winter Haven is on All City Services. Electric is Direct Billed. The Mobile Home Sites offer 100 AMP electrical service to pedestal units. One Site (#16) is serviced through an overhead feed. The RV Sites offer 30/50 AMP electrical service to pedestal units. One Site (#11) is serviced through an overhead feed. Gas is Direct Billed to the Mobile Home Sites and Propane is utilized by the RV Sites. Water, Sewer, and Trash are included with rent and paid by owner. There are five Park Owned Homes and there are currently no Homes under Contract for Sale. Two of the five Park Owned Homes are utilized as AirBnb rentals. The most recent rent raise occurred in January 2020 ($12). Recent capital improvements include a new sewer line hook-up at Site #11 ($3K), new flooring and paint in Home #26 ($2K), and new flooring, paint, light fixtures, and furniture in Home #2. There is a clean all metal storage warehouse (24’ X 24’) located at the Park. Winter Haven is a clean, pride of ownership, well maintained Community. A great entry level Mobile Home Park investment opportunity!

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Park Information

Community Type: 55 And Over
Number of MH Lots: 24
Year Built: 1978
Size: 3 acre(s)

Financial Information (Actual)

Gross Income $67,202
Operating Expense $23,964
Net Operating Income $43,238
Expense Ratio 35.7 %
Debt Info

RV Information

Number of RV Lots: 11

Utility Information

Water: City
Water Paid By: Park
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 5

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