Mobile Home Park Details
- Purchase Method: Cash, Seller Financing, New Loan
- Cap Rate: 12.6%
- Listing ID: 422446
- Posted On: Jan 24, 2014
- Updated On: Dec 30, 2021
Description
Great investment opportunity!! 12.65% cap rate based on Actuals!! Section 8 Qualified!! La Verde Mobile Home Park consists of 14 units, (4) 1 bed/ 1 bath, (7) 2 bed/ 1 bath, (1) 3 bed/ 2 bath, and 2 of which are tenant owned. Park typically maintains below a 5% vacancy rate! Long Term Residents and Proven/Steady Cash Flow. This property has been very well managed and has a strong rental history. Well Maintained Park.
PARK IS ALSO AVAILABLE AS A PACKAGE WITH AN ADDITIONAL 2 PARKS CONSISTING OF A TOTAL OF 65 UNITS AT 1.5M.
**PLEASE DO NOT DISTURB TENANTS! CONTACT LA FOR SHOWINGS!!
Location
Head north on I-10 toward Exit 198, Take exit 198 for Jimmie Kerr Boulevard, Turn right onto AZ-84 W/W Jimmie Kerr Blvd/E Main St, At the traffic circle, take the 1st exit onto N Casa Grande Ave, Continue onto E 2nd St, Continue onto N Pinal Ave, Turn left onto W McMurray Blvd, Turn left onto N French St,
Destination will be on the left.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 14 |
| Total Occupancy: | 95.0 % |
| Year Built: | 1975 |
| Size: | 1 acre(s) |
Financial Information
| Gross Income: | $69 |
| Operating Expense: | $26 |
| Net Operating Income: | $41 |
| Expense Ratio: | 37.7 % |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Submetered |
| Sewer: | City |