16 Unit Mobile Home Park

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.

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