Well located mobile home community with excellent ingress/egress along an exit of a major highway, offering the purchaser a potential redevelopment for this investment. It is also located in an opportunity zone further amplifying the returns on re-positioning this asset. The park is a stabilized land-lease community with plenty of up-side in rents strong market.
The park has 20 spaces and lot rent only tenants each paying an average lot rental rate of $630 per month. The local market rents for similar parks are north of $700. Current occupancy is 100%.
4-C MHC is a year-round, all-ages community and has public water & sewer that is included in the rent and not being billed back to the tenant, offering further immediate upside. There are 0 park owned homes. The tenant owned units are primarily an older vintage. Tenants pay their rent monthly. The privately maintained roads are paved and in average condition as our offering price suggests. The park is NOT in a flood zone. Located in a excellent location near all amenities, just 8 miles to downtown Denver and 3/4 mile from Walmart.
This park is being offered as a stabilized investment using broker’s figures with a 6.0% CAP on current lot rent only using a 31.2% expense ratio. The seller is currently operating the park at an 8.48% cap-rate (based off of seller’s actual figures, broker’s figures have been adjusted to reflect buyer’s year one income and expenses based on third party operating costs).
We are looking for cash offers, however recourse bank debt should be available for this deal.
| Title | Price | Status | Type | Area | Purpose | Bedrooms | Bathrooms |
|---|
