- Lots: 20
- Cap Rate: 6.00%
- Acreage: 1.32
- Investment Type: Stabilized - Opportunity Zone
- Total Tenants: 20
- MSA/St: Denver CO
- Utility: Public
- POH: None
Executive Summary
New Listing. Pictures and OM coming soon!
- Excel Sheet
- Offering Memorandum
- Park Info Sheet
- Letter Of Intent (LOI)
- Broker Investment Summary Video
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.
Investment Highlights
- Located in Opportunity Zone
- Excellent Ingress/Egress
- Potential Future Redevelopment
- Below Market rents (market is $700+)
- Public Water & Sewer, included in rent
- 8 Miles to Downtown Denver
Known Issues
- Mom & Pop Operator
- Limited Books & records
- park built in 1965 (estimate), may have aged infrastructure, all systems currently working properly
Park Overview
- Cap Rate: 6.00%
- Lots: 20
- MHP Lots: 20
- RV Lots: None
- Tenants: 20
- Occupancy Rate: 100%
- Current Average Lot Rent: $630
- Gross Income (All Income Sources): $148,176
- Lot Rent Income: $148,176
- Water Info: Public, Included in rent
- Sewer Info: Public, Included in rent
- Flood Zone Info: Not in flood zone
The information contained within this website is proprietary and strictly confidential. It is intended to be reviewed only by the approved party receiving it and should not be made available to any other person or entity without the written consent of the broker involved. This information has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. We have not made any investigation, and make no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained within has been obtained from sources we believe to be reliable; however, we have not verified, and will not verify, any of the information contained herein, nor have we conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.
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