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$ 1,195,000
Est. payment | /mo
8 Baths
8,300 SqFt
$ 1,195,000
Est. payment | /mo
8 Baths
8,300 SqFt
Key Details
Property Type Commercial
Sub Type Mobile/Manufact Home Park
Listing Status Active
Purchase Type For Sale
Square Footage 8,300 sqft
Price per Sqft $143
MLS Listing ID 825247
Full Baths 8
Annual Tax Amount $464
Tax Year 2024
Lot Size 2.000 Acres
Acres 2.0
Property Sub-Type Mobile/Manufact Home Park
Property Description
Great investment opportunity with this 9-Unit mobile home park, along with 3 extra lots to lease out or place additional trailers/manufactured homes. All units are park/Seller owned, with 8 currently leased, and 1 vacant needing nominal renovations. Over the last 24+- months the 8 units, and grounds have undergone approx. $300,000 in renovations (original dates of units range from 1966-1983, albeit the 8 renovated are modernized). The in-place NOI of $102,296 generates an 8.56% CAP Rate, with upside from the 1 vacant trailer, and 3 lots. Upon full lease-up and a 5% Mkt. Vacancy the projected cash-on-cash return with a 70% LTV is 12.55%. Nestled at the foot of Colorado's Grand Mesa, Cedaredge is a charming mountain town where small-town hospitality meets breathtaking natural beauty. With its sweeping views, mild four-season climate, and rich agricultural heritage, Cedaredge offers a slower pace of life surrounded by orchards, vineyards, and scenic trails. Co-Listing agent is brother-in-law of Seller. Don't miss this awesome investment Opp, call or email now to tour the property!
Location
State CO
County Delta
Interior
Furnishings Unfurnished
Building
Story 1
New Construction No
Listed by Grand Mesa Real Estate Services
NEARBY SCHOOL & BUSINESS
SCHOOLSPROPERTIES
Elementary Schools 1
- 4
Cedaredge Elementary School
Public | KG - 5
Middle Schools 1
- 7
Cedaredge Middle School
Public | 6 - 8
High Schools 1
- 7
Cedaredge High School
Public | 9 - 12
School and business data provided by Attom Data.