Small MH park

Multi-Family for Sale
Catylist Listing ID: 30263507
Property Subtypes: Mobile Home Park
Number of Units: 5 Units
Building Size (RSF): 1,088 SF
Gross Building Area: 5,888 SF
Gross Land Area: 30,056 SF
Sale Price: $450,000
Unit Price: $90,000 Per Unit
Property Use Type: Investment
Usable Size (USF): 5,888 SF
Sale Terms: Cash to Seller, Owner Financing
Cap Rate: Undisclosed
Last Updated: 7/17/2018

Overview / Comments

365 Armstrong is a small Manufactured Home Park in the north area of Las Cruces. Armstrong is a paved road leading to the park. It consists of Five Manufactured Homes. All units are single section homes. The homes range from a 1997 model to a 2000 model. All homes have been taken care of. The land is 30,056 square feet or .69 acres. The property is serviced by a septic system that is monitored and pumped out every six months. The water service is by private well that is registered. Owner pays for water, taxes, and garbage. Tenants pay for gas and electricity. All tenants are on one-year leases. The owner owns all five homes and has taken care to make sure they have been very well maintained. Lease rates range from $642 to $675 per month. The expenses are approximately $3500 per year. Gross income is $39,804 per year. Owner will consider financing the park himself. Please call the Listing Broker for terms. This small park is a good investment with very little maintenance or overhead. Possible cash discount available.

Financials

Finance Data Year 2017
Real Estate Taxes - Annual($) $910 (Annual)
Potential Rental Income $39,804 (Annual)
Gross Operating Income $39,804 (Annual)
Net Operating Income $36,500 (Annual)
Actual or Proforma Year Actual
Lender Name OWNER
Loan Amount $300,000
Down Payment $150,000
Annual Debt Service $24,763 (Annual)
Interest Rate (APR) 5.50
Amortization Period 240

Additional Details

Nearest MSA: Las Cruces
County: Dona Ana
Taxing Authority: Dona Ana County
Tax ID/APN: 03-05935
Zoning: MULTI-FAMILY
Percent Occupied: 100%
Property Located Between: El Camino Real & Dona Ana Road
Highway Access: I -25
Site Description: Fairly Flat
Area Description: Mixed use manufactured homes and site built homes.
Total Number of Buildings: 5
Property Condition: Average
Number of Stories: 1
Year Built: 1980
Construction/Siding: Wood Siding
Parking Type: Surface
Parking Description: Interior parking in the park.
Total Parking Spaces: 25
Laundry: In Each Unit
Sprinklers: None
Heat Type: Other
Heat Source: Other
Fuel: Other
Air Conditioning: Other
Water Service: Well
Sewer Type: Septic
Land Ownership: Owned
Legal Description: S: 36 T: 22S R: 1E MAP 7 PT OF TR 18A1

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,574 56,441 108,112
Median Age: 35.02 35.31 35.25
Households: 3,153 21,991 43,233
The information presented herein is provided as is, without warranty of any kind. Neither Catylist nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.