Investor opportunity in Bloomfield, New Mexico - this 29-space mobile home park offers strong cash flow and long-term upside with a 11.5% cap rate, and 18.6% Cash on Cash Return, based on 30% down. Property has a blend of 18 park-owned and 11 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. The owner's ongoing upgrades and renovations to all park-owned homes have enhanced the overall quality and appeal of the community. These improvements help increase demand from prospective residents, contributing to strong occupancy rates and long-term stability for the park. Financials and rent roll available with NDA. Financing is available with 20% Down at local bank.
| Date | Event | Price | $/Sqft | Source |
|---|---|---|---|---|
| Listed For Sale MultiFamily | $1,450,000 | R1 New Mexico Farmington |
| Year | Annual Amount | Description |
|---|---|---|
| $0 | 'BEG EAST 163.5 FT OF SW CORNER SE/NE SEC 28 29 11 THENCE NORTH 660 FT EAST 330 FT SOUTH 660 FT WEST 330 FT TO BEG. 5 A |
Elementary School Blanco Elementary | 1 miles away | PK - 06 | |
Elementary School Central Primary | 1.2 miles away | 01 - 03 | |
Junior High School Mesa Alta Junior High | 1.3 miles away | 07 - 08 |