Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 5.2%
  • Listing ID: 1886267
  • Posted On: Sep 16, 2022
  • Updated On: Oct 19, 2022

Description

Desert Retreat Mobile Home & RV Park is an All Age Community offering 41 Rental Units, located in Tucson, Arizona. The Park is comprised of (35) Sites, (3) Apartment Units, (1) Home, and (2) Retail Businesses currently operating under Lease Agreements. The Community was originally built in 1957 and sits on approximately 2.19 acres. The Park is on All City Services. Electric is Direct Billed to all Sites with the exception of five Sites (6, 7, 18, 19, 36), which are individually read and Billed Back. The Sites offer 200 AMP electrical service to pedestal units that provide Cox Cable, Telephone, and Internet services. Water and Sewer are individually metered and Billed Back. All water lines are copper. All sewer lines are ABS plastic. Gas is Direct Billed. Trash is a Flat Fee ($10). The Apartment Unit Mix is; (2) 1 Bedroom/1 Bath and (1) 2 Bedroom/1 Bath. The House is a 3 Bedroom/2 Bath. Electric is Direct Billed. Water and Sewer are individually metered and Billed Back. Trash is a Flat Fee ($10). The two Retail Businesses include an outdoor Café and a Hair Salon. The Café is Direct Billed for Electric and Gas. Water and Sewer are individually metered and Billed Back. Trash is a Flat Fee ($100). The Salon is Direct Billed for Electric. Water and Sewer are individually metered and Billed Back. Trash is a Flat Fee ($10). There is one Park Owned Home (2019 Clayton 14’ X 66’) and there are currently no Homes under Contract for Sale. The next Rent Raise is scheduled to commence on September 1, 2022 (Sites $300, Apartments $400 - $600). Desert Retreat has a Laundry Facility with 2 Washers/2 Dryers and the equipment is leased. The Community has an Onsite Office that could be converted back to its’ original use as an updated Studio Apartment. The Park is fully fenced and offers two Storage Garages and a private Maintenance Yard with a Storage Trailer. Desert Retreat has been owned and operated by the same family for 38 years. A Must See Pride of Ownership Investment Opportunity in Tucson, Arizona!

Amenities

  • Laundromat
  • Storage
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Park Information

Community Type: All Age
Number of MH Lots: 41
Total Occupancy: 100.0 %
Year Built: 1957
Average MH Lot Rent: $300
Size: 2 acre(s)

Financial Information (Pro Forma)

Gross Income: $215,466
Operating Expense: $75,466
Net Operating Income: $140,000
Expense Ratio: 35.0 %

Utility Information

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

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