For Sale
Location Map
Brokers:Name |
Alfredo Barrenechea |
Email |
alfredo@go-absolute.net |
Phone |
505-401-0135 |
Address: 209 Shirk Lane SW, Albuquerque, NM 87105
Property Status: Closed
Sale Pricing: $539,000
Property Information:Cap Rate |
9 |
Size |
1.15 Acres |
Property Type |
Mobile Home Park |
Number of Spaces |
16 |
Property Description:
This is a rare opportunity to acquire a 16 unit, 100% leased, fully operating mobile home park. The property is adjacent to Mountain View Elementary School and is located in a quiet neighborhood in the heart of Albuquerque’s South Valley with easy access to 2nd St. Recent capital improvements include new paving and a new solar powered automatic entry gate. The new owner of this property has the opportunity to significantly increase NOI by increasing rates to market and billing back operating expenses. With these simple changes, pro-forma cash on cash return could be nearly 25% (see pro-forma included in the following page.