Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 7.6%
  • Property ID: 1376118
  • Posted On: Jan 7, 2021
  • Updated On: Jan 14, 2021

Property Description

Marcus & Millichap is pleased to present for sale Mountain Quail MH & RV Park, a 55+ senior-designated park located in the town of Quartzsite, Arizona. Quartzsite is situated 18 miles east of the Colorado River and on the California/Arizona border. Quartzsite was named for a semi-precious gemstone that was mined in the mid-1800s during the California gold rush and is home to the famous gem shows and swap meets that take place over multiple months throughout the year. Though the city has a population of fewer than 4,000 people, it hosts an average of 1.5 million annual visitors. These visitors generate most of the activity as well as a large percentage of the economy within the town, especially in the winter months. Quartzsite is also considered a popular RV camping destination for “snowbirds” who are looking to avoid harsh winter weather with 70-degree average temperatures.
Quartzsite is home to the Arizona Peace Trial Ultimate OHV Adventure. Tourists come to explore and experience 675-mile loop trail that spans three counties (La Paz, Yuma, and Mohave) and traverses from the northern cities of Bullhead City and Kingman through the deserts along the Colorado River to Yuma on the border of Mexico. Another popular attraction for visitors to enjoy is the Quartzsite (Tysons Well State Station) Museum, which provides displays of the pioneer and mining history of Quartzsite. The museum contains original mining equipment and the original adobe station built in 1866.
Mountain Quail MH & RV Park has an amenity package consisting of a clubhouse with sound system, speakers, and TV, game room, dog park, car wash, and storage area. There is a laundry facility with 2 washers and 2 dryers, fire pit, and public restrooms with showers. Mature Saguaro Cactus, Cholla Cactus, Oleanders, Palm Trees, diverse rock landscapes, and all types of canyons surround the Park. A full-service restaurant, Mountain Quail Café, is on the premises that will not convey with the sale of the park. The restaurant has been parceled off and is owned by another owner/entity. The owners have a shared written agreement to share the driveways and parking lot entering the Café and Park. The cost of maintenance and repair for the driveways and parking lot are to be shared equally by both parties. For more information, please view our due diligence portal labeled Mountain Quail Café.
The Park consists of 53 RV sites and 39 mobile home sites built on 11.7 acres with a density of 7.86 sites per acre. The Park has paved roads with city water and sewer. The water, sewer, and trash are included in the tenants rent. The MH are direct billed for electric. The RV electric is sub-metered and paid monthly. The sites are all full-service back-ins and measure 30x100. All RV sites have 50 Amp services at each site and some sites have 30 Amps. There is no natural gas in the park. Propane is the only gas available.
Mountain Quail MH & RV Park is owner-managed with the goal of attracting annual rent payments. There are currently 88 of the 92 sites generating income. There are also 5 storage sheds generating income.

Amenities

  • Club House
  • Storage
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Park Information

Community Type: 55 And Over
Number of MH Lots: 92
Total Occupancy: 96.0 %
Year Built: 1987
Size: 11 acre(s)

Financial Information (Actual)

Gross Income $236,388
Operating Expense $116,100
Net Operating Income $109,988
Expense Ratio 49.1 %
Debt Info

Lot Information

Singlewide Lots: 30
Doublewide Lots: 5

RV Information

Number of RV Lots: 56

Utility Information

Water: City
Water Paid By: Park
Sewer: City