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RANCHO LAS VEGAS 1735 North Rancho Drive, Las Vegas, NV 89106

Off Market  

Mobile Home Park Details

  • Purchase Method: Cash, Seller Financing, New Loan
  • Cap Rate: 5.9% (Actual)
  • Listing ID: 2989881
  • Posted On: May 24, 2023
  • Updated On: Nov 6, 2023

Description

Las Vegas Nevada Free Market Economy No Rent Controls, No State Goverment Tax Growing Economy and Population. no end in site.
20 units no vacancy in City of Las Vegas On bustling Rancho Drive 6 cap upside easy rent boast no rent control pick it up to 7 cap in 90 days notice period. Market is yearning for rental property as interest rates and average price put the new townhomes on same block buyers at over 2100 a month now.

Location

Prime time heart of Vegas 5 minutes to Downtown 10 minutes to the Strip 2 min to US 95 all services minutes away

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Park Information

Community Type: All Age
Number of MH Lots: 14
Total Occupancy: 100.0 %
Year Built: 1971
Average MH Lot Rent: $874
Size: 1 acre(s)

Financial Information (Actual)

Gross Income: $234,600
Operating Expense: $43,985
Net Operating Income: $190,565
Expense Ratio: 18.7 %
Debt Info: No

Lot Information

Singlewide Lots: 10
Doublewide Lots: 0
Triplewide Lots: 0
Park Model Lots: 4

Utility Information

Water: City
Water Paid By: Park
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 7
Average Rent for Park-owned Homes: $1,500

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