This 6-space mobile home park offers cash flow and long-term upside with a 8.9% cap rate, and 9% Cash on Cash Return, based on 30% down. Property features a blend of 1 park-owned and 5 tenant-owned homes, providing a balanced mix of income stability and lower maintenance demands. Homes are connected to city utilities, with each unit on separate propane. Water & Electric is currently paid by the landlord, allowing flexibility for future expense adjustments.The park includes irrigation rights, mature trees, and a well-organized layout that enhances tenant appeal. A major operational asset is the reliable on-site maintenance person, who brings consistency and responsiveness to property maintenance. Located in a market with steady demand for affordable housing, this park presents an immediate cash-flowing investment with potential for value-add strategies through rent optimization or infill opportunities.Financials and rent roll available with NDA.
Date | Event | Price | $/Sqft | Source |
---|---|---|---|---|
Listed For Sale | $295,000 | $∞ | R1 New Mexico Farmington |
Elementary School Blanco Elementary | 1.1 miles away | PK - 06 | |
Elementary School Central Primary | 1.3 miles away | 01 - 03 | |
Junior High School Mesa Alta Junior High | 1.4 miles away | 07 - 08 |