Mobile Home Park Details

  • Purchase Method: Cash, Seller Financing, New Loan
  • Cap Rate: 6.5%
  • Listing ID: 3993836
  • Posted On: Nov 14, 2023
  • Updated On: Jun 10, 2024


NAI SunVista is delighted to present Gatewood Mobile Home Park, situated at 1143 Gatewood
Ave. SE in Albuquerque, NM. This mobile home is well positioned at a mere 0.15 miles away
from one of the seven major river crossings in the metropolitan area, affording convenient
accessibility to Interstate 25. Residents of this park benefit from an array of nearby amenities,
including restaurants, schools, services, and parks, enhancing the overall living experience.
Notably, the subject site is situated in the southwest trade area, an underserved market with
a high demand for affordable housing.
Encompassing a total of 2.69 acres within an established neighborhood off Bridge Blvd, a
prominent east/west commuter corridor, the mobile home park boasts 12 mobile homes, 1
manufactured home, and a duplex with 2 separate living units. All dwellings within the park
are tenant-owned, with the exception of four mobile homes and one manufactured home,
which are under the ownership of the Seller.
A noteworthy feature is the half-acre parcel of vacant land, accessible through a separate
newly constructed iron and metal gate, which holds tremendous value-add potential. County
approval could pave the way for the development of additional housing and rental units (or
another preferred development) on this vacant land, leading to increased revenue and overall
property value.
Presently, third-party management oversees the operations of the mobile home park, as
indicated in the operating statement. The owner is also extending owner financing terms for
the acquisition to qualified buyers.
The investment stands to benefit from a history of robust occupancy rates and the enticing
potential of the vacant land. In Moreover, Gatewood Mobile Home Park boasts strong real
estate fundamentals, positioning it favorably for future prospects. The property’s minimal
vacancy rate (currently zero vacancy) and the prospect of utilizing the excess land make it a
compelling investment opportunity for investors seeking to capitalize on its potential.


1143 Gatewood Ave. SW Albuquerque, NM 87105

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Park Information

Community Type: All Age
Number of MH Lots: 13
Total Occupancy: 100.0 %
Average MH Lot Rent: $925
Size: 3 acre(s)

Financial Information (Actual)

Gross Income: $184,788
Operating Expense: $38,678
Net Operating Income: $146,109
Expense Ratio: 20.9 %
Debt Info: Seller owns

Lot Information

Singlewide Lots: 12
Doublewide Lots: 1

Utility Information

Water: City
Water Paid By: Tenant - Individual Service
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 7
Average Rent for Park-owned Homes: $925