Description
Great investment opportunity with this 9-Unit mobile home park, along with 3 extra lots to lease out or place additional trailers/manufactured homes. All units are park/Seller owned, with 8 currently lease and 1 vacant needing nominal renovations. Over the last 24 months the 8 units and grounds have undergone approx. $300,000 in renovations (original dates of units range from 1966-1983, albeit the 8 renovated are modernized). The in-place NOI of $102,296 generates an 8% CAP Rate, with upside from the 1 vacant trailer, and 3 lots. Upon full lease-up and a 5% Mkt. Vacancy, the projected cash-on-cash return with a 70% LTV is 11.05%. Nestled at the foot of Colorado's Grand Mesa, Cedaredge is a charming mountain town where small-town hospitality meets breathtaking natural beauty. With its sweeping views, mild four-season climate and rich agricultural heritage, Cedaredge offers a slower pace of life surrounded by orchards, vineyards and scenic trails. Listing agent is brother-in-law of Seller. Don't miss this awesome investment Opp, call or email now to tour the property! Co-Listing with Chad Tyler of Tyler Donegan Duncan Real Estate Services, Inc.
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01/2 BATHS
School Ratings & Info
Description
Great investment opportunity with this 9-Unit mobile home park, along with 3 extra lots to lease out or place additional trailers/manufactured homes. All units are park/Seller owned, with 8 currently lease and 1 vacant needing nominal renovations. Over the last 24 months the 8 units and grounds have undergone approx. $300,000 in renovations (original dates of units range from 1966-1983, albeit the 8 renovated are modernized). The in-place NOI of $102,296 generates an 8% CAP Rate, with upside from the 1 vacant trailer, and 3 lots. Upon full lease-up and a 5% Mkt. Vacancy, the projected cash-on-cash return with a 70% LTV is 11.05%. Nestled at the foot of Colorado's Grand Mesa, Cedaredge is a charming mountain town where small-town hospitality meets breathtaking natural beauty. With its sweeping views, mild four-season climate and rich agricultural heritage, Cedaredge offers a slower pace of life surrounded by orchards, vineyards and scenic trails. Listing agent is brother-in-law of Seller. Don't miss this awesome investment Opp, call or email now to tour the property! Co-Listing with Chad Tyler of Tyler Donegan Duncan Real Estate Services, Inc.