This property is Off-Market

1517 Hwy 60/84
Clovis, NM 88101 ·

30 Spaces · Multifamily For Sale

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Clovis West

Price N/A Property Use Type Investment
No. Spaces 30 Cap Rate 13%
Property Type Multifamily Occupancy 65%
Property Sub-type
Mobile Home/RV Community
More...
  • Garden/Low-Rise
Lot Size 7 AC
Listing ID: 17071553 Date Created: 03/17/2011 Last Updated: 08/15/2012

Description

Next to Cannon Air Force Base, a phenomenal investment property with tremendous upside potential. This seven acre property has spent the last six months being upgraded and is now ready to start putting in more mobile homes.
The property currently has 30 mobile home spaces, 4 park owned homes (rent for $360 - $700 per month ), a newly remodeled three bedroom house (currently rented for $900 per month), 8 one bedroom apartments (fully rented for $480 - $505 per month) and a small commercial building with highway frontage with a car count of approximately 10,000 per day.
Clovis is booming and the demand for housing is incredible. Apartments are usually rented within two days if a vacancy occurs and the record is 12 hours to fill a vacancy.
The estimated occupancy is about 50% due to the fact that the mobile home lots had been full of uninhabitable mobile homes. They have all been removed and the property is now ready to start accepting new homes.
The lots are designed to accommodate RV's or Mobile Homes
Financials are available upon request
Partner in the corporation is a licensed NM broker

The property is located only one mile from Cannon Air Force Base. Cannon Air Force Base is currently undergoing major expansion and is planning on having over 5000 troops stationed here within the next three years increasing the demand even more.
The Tres Amigas Superstation is scheduled to start being built in Cloivis in the near future. This Superstation will connect the three major electrical grids in the United States which has never been done before. Estimations of 1200 employees will be needed for the initial construction phases.
The building of the Superstation will make Clovis not only an energy distribution center for the U.S. but will also enable large wind farms to be built near and supply power to the Superstation, one of which is already under way called the Mariah Project.

Housing is already in short supply in the area. The growing Air Force Base, the growing Dairy industry, Tres Amigas Superstation and the windfarms are creating an unprecedented amount of jobs and will do nothing but add to the growing demand for housing in the area.

Do a Google search for Tres Amigas Superstation, Mariah Project, and housing shortage in Clovis NM.

Research

1517 Hwy 60/84, Clovis, NM 88101 (Curry County)

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