💰💼 Seize Your Wealth: Lucrative Mobile Home Park Investment in Española, NM 🏡🚀 Maximize Cash Flow Potential & Secure Your Financial Future! 🌟

Description

We have a new mobile home park for sale that has some tremendous upside!

Asking $250k with seller finance available at the following terms:

$40,000 down payment
ZERO INTEREST
15 year terms
Monthly payment of $1,166.66 per month

Highlights About the park:

* 15 spaces
* 1.76 acres
* Mainly all tenant-owned homes (please see OM for in-depth details)
* Current monthly rent: $340/month
* tenants pay for the electricity & gas – the landlord pays for the water and sewer

*City water and city sewer
*Located in Española, NM – population 10,596
The park is located:
2.4 miles from Starbucks
2.7 miles from Walmart
4.6 miles from Española Airport
30 minutes from Santa Fe, NM

Value Add Opportunity:

The park currently has a lot of tenants who are behind on rent and getting caught up on payments. The total income last year was just under $42,000 but if you got rid of the problem tenants, got it so that everyone was paying on time, and bumped up the rent to $400/month, you could bring the total income to $72,000/ year. Even if you didn’t bump up the rent, the total income should be $61,200 if everyone was paying on time. If you look at previous years the park was doing really well before the wife passed, since she was much more firm about collecting rent. The husband is a self-proclaimed “terrible landlord and pushover”
The park currently does not individually meter the trailers for water, which is the park’s biggest expense. If you came in and individually metered the trailers for water, you could bill back the parks largest expense and bump up the NOI.