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Mobile Home Park Details

  • Price: $2,600,000
  • Cap Rate: 5.4%
  • Property ID: 1411874
  • Posted On: Mar 23, 2021
  • Updated On: May 5, 2021

Property Description

https://estersonmhcteam.​com/property/west-mesa-mhp-cottages

Cash-flowing, stabilized asset at 100% occupancy West Mesa MHP is located in an Opportunity Zone between Main & First Street in Downtown Mesa.​ With easy freeway access to Loop 101 and a short walk to the Light Rail Extension, the park provides easy access to major East Valley economic hubs, including Mesa, Phoenix and Chandler.​ West Mesa MHP is also located within 2 miles of the Fiesta Quadrant Employment Center and is only minutes away from Mesa Community College.​

West Mesa MHP is 100% occupied and comprised of 42 total rentable units – 20 TOH’s, 11 POH’s, 3 RTO’s, 7 Cabins, and 1 SFH.​ The community has city water and city sewer, both of which are paid for by the landlord and included in tenants’ rent.​ Electrical services are also public and paid for by the landlord, but each MH lot is individually sub-metered, and tenants are billed back based on usage.​

We are asking that investors submit offers at or above $2,600,000, which represents a 5.42% cap rate on current lot rental income.​ With paved roads and an occupancy rate of 100%, West Mesa MHP should qualify for a conventional, recourse bank financing at a 4.15% interest rate, 75% LTV, and 25-year amortization.​

Interested in purchasing this mobile home park? Get pre-qualified for a loan.

Park Information

Community Type: All Age
Number of MH Lots: 42
Total Occupancy: 100.0 %
Size: 2 acre(s)

Financial Information (Actual)

Net Operating Income $137,283
Debt Info

Utility Information

Water: City
Sewer: City

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