MOBILE HOME PARK - SELLER FINANCING
Park Brokerage Inc. is proud to welcome to the market White Cliffs Mobile Home Park, a clean 70 space 2* MHP on city services with seller financing. Sale includes 24 mobile homes in good shape and the park has been well maintained with new underground infrastructure and amenities such as gated security. Owner has put in some new singlewide homes and the park is laid out with four cul-de-sac’s and gravel roads. Electric and gas are direct-billed to each tenant and water/sewer is passed through to tenants. Owner has an agreement with local water provider which has an easement on the property for treatment plant that services the park and the immediate area and also allows landlord water shutoff rights for non-payment of rent. Parks rents are under the market allowing landlord immediate upside.
PLEASE DO NOT DISTURB TENANTS OR MANAGEMENT
-$1,400,000 sales price
-70 sites with room for expansion
-8.6% cap rate, 16.8% Year 1 Total Return
-Sale includes 24 park owned homes
-No rent control
-Large lots and newer inventory
-Security Gate being installed on property
-Connected to City Water & Sewer service
-Great return on current numbers plus rent upside
Address:
40 Bishop Dr
Gallup, NM 87301
Please email [email protected] for rent roll and financials.