Historical Multifamily Sale Listing - Lone Mountain Mobile Home Ranch

Multifamily For Sale

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Lone Mountain Mobile Home Ranch

7626 West Lone Mountain Road, Las Vegas, NV 89129

N/A

82 Spaces | Multifamily

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Multifamily Property - Off Market

Price:
N/A
No. Spaces:
82
Property Type:
Multifamily
Property Sub-type:
Mobile Home/RV Community
Property Use Type:
Investment
Cap Rate:
5.62%
Gross Rent Multiplier:
12.09
Occupancy:
100%
Year Built:
1963
Lot Size:
8.13 AC
Listing ID
14613183
Last Updated
over 1 year ago

Highlights

  • One of the Last MHP in the North West
  • Excellent Tenant History
  • 100% Occupied
  • Quite and Highly Desired Neighborhood
  • New Financing is Available with no Restrictions
  • Principals Only Please

Description

***Principals Only Please***

Lone Mountain Mobile Home Ranch is a 82-space All-Age community situated on 8.13 acres of fee land. The park is located on the North West corner of Buffalo Drive and Lone Mountain Road. The property is in a rapidly growing, upscale, residential neighborhood adjacent to Summerlin. This desirable location creates a high-demand for affordable rentals and the park is always 100% occupied.

The park is serviced by septic system, but has been approved for connection to city sewer. The gas & electric are direct metered and the water submetered, sewer and trash are included in the rent. Most residents are on annual leases and the Seller has the right to pass annual CPI increase payable on the anniversary date of tenancy.

The park has large spaces and can accommodated multi-sectional homes in many sites. Currently there are 54 single wide (42 x 73), 27 double wide (42 x 104), and one triple wide (86 x 100) homes in the park. There is a laundry room, work shop and office for the manager's use. The park has been well-maintained and is in good condition.

Lone Mountain Mobile Home park is located in Clark County in the Northwest quadrant of Las Vegas, Nevada. Situated on the northwest corner of Lone Mountain Rd. and Buffalo Dr. two major thoroughfares with high traffic count.

The park is less than half a mile from interstate 95 and the world famous Santa Fe Station Casino. The property is located in one of the most rapidly expanding sections of Clark county surrounded by new up-scale homes in the price range of $550,000 and above and new condo projects to the east. Almost across the street within walking distance to Leavitt Middle School. Easy access to the Freeway and excellent visibility from two major highways.

Map of 7626 West Lone Mountain Road, Las Vegas, NV 89129 (Clark County)

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