Mobile Home Park Details
- Purchase Method: Seller Financing
- Cap Rate: 8.8% (Actual)
- Listing ID: 445065
- Posted On: May 21, 2014
- Updated On: Apr 14, 2015
Description
• Opportunity to acquire a large, scenic RV/MH Park with 71 full
hookup RV Sites and 26 MH Sites in the heart of Arizona’s Santa Cruz River Valley.
• In the seven years prior to last December’s 10% rent raise for the MHs, there had been no movement in rents. Another rent increase of 10% is scheduled to take place in December of this year, which will raise the average rent to $285, which is below the $330 market average. RV rent has not been increased in years and at $350 a month is also below the market average.
• With views of the Santa Rita Mountains, Mountain View includes a clubhouse and convenience store that sells groceries, beer, refills propane tanks, and offers practically anything else that a local resident or RVer would need.
• Offering includes 3 manufactured homes, and 3 RVs. Two of the six homes are vacant.
• Community is serviced by excellent well water and has an onsite treatment plant.
• Offering includes 3 manufactured homes, and 3 RVs. Two of the six homes are vacant.
• Community is serviced by excellent well water and has an onsite treatment plant.
Location
• Situated in South Central Arizona between Tucson and Nogales, Mountain View RV Ranch is the ideal stop for travelers headed to Mexico, visitors planning sightseeing trips, or snowbirds looking for a place to land for the winter.
• Green Valley Hospital, a full-service facility is under construction 8 miles up the road and will open the first quarter of 2015.
• Mountain View is near all kinds of tourist activities, including golf, horseback riding, hiking trails, mountain biking, and bird watching.
• Nearby Sahuarita is home to the Titan II Missile Museum, which draws visitors from all over the world to explore a former intercontinental ballistic missile site.
• The average humidity is 7%: ideal for astronomers. Also nearby and contributing to Southern Arizona’s reputation as “Astronomy Capital of the World” is Kitt Peak Observatory, home of the world’s largest collection of telescopes.
• Tubac lies 6 miles to the south of the park. Lovers of art and history are drawn to historic Tubac, the oldest European settlement in the area and a shopper’s paradise with nearly 100 galleries and shops in addition to its historic park and museum. Tubac has this year been named an up-and-coming, must-see destination by Condé Nast Traveler and “One of America’s Coolest Small Towns” by Budget Traveler.
• 30 minutes south of Tucson International Airport and 2 hours south of Phoenix Sky Harbor Airport.
Amenities
- Laundromat
- Pool
- Storage
- Club House
Park Information
| Community Type: | All Age |
| Total Occupancy: | 72.4 % |
| Year Built: | 1975 |
| Average MH Lot Rent: | $255 |
| Size: | 10 acre(s) |
Financial Information (Actual)
| Gross Income: | $290,849 |
| Operating Expense: | $168,341 |
| Net Operating Income: | $122,507 |
| Expense Ratio: | 57.9 % |
Lot Information
| Singlewide Lots: | 26 |
RV Information
| Number of RV Lots: | 71 |
| Average RV Lot Rent: | $350 |
Utility Information
| Water: | Well |
| Water Paid By: | Park |
| Sewer: | Treatment Plant |