Multifamily Property For Sale - Space Era Mobile Home Park

145 West Surge Street, Reno, NV, 89506

 
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Multifamily For Sale
Reno, NV
Nevada

Space Era Mobile Home Park

 

145 West Surge Street

Reno, Nevada 89506
County: Washoe
 
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  For Sale Active  
Type:Multifamily
Mobile Home/RV Community
No. Spaces:37
Lot Size:11.99 Acres
Occupancy:97.00%
Price:$1,575,000
Price/Space:$42,568
Cap Rate:8.40%
Date Last
Verified:		12/27/2008
Property ID:15264146
 
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 Additional Information 

Property Description:
37 space mobile home park. Space rent is $358.00 per space; water, sewer, trash and electric usage is passed through to tenants. On Washoe County water and sewer. Property has approximately 2 acres of vacant land which could be used for park expansion (possibly up to 24 additional spaces-TBV).

Zoned SF4. Property has 9.25 Acre Feet of Lemmon Valley Basin "B" ground water rights. Owner has an additional 6.71 AF available. Property was scheduled (in 2007) for demolition and buildout of 61 unit subdivision. The Tentative Map expired in July, 2008. Contact owner for full details.

Location Description:
West Surge Street is off Lemmon Drive, next to 7-11. Property boundry starts at Lemmon Valley Drive and includes West Surge Street which is the entrance to Space Era MHP. See aerial.

Property Types:Mobile Home/RV Community
Multifamily (land)		Commission Split:3%
TaxID/APN:080-191-22
 Highlights 
•Excellent location in growing North Valleys area•Includes 9.25 AF of Lemmon Valley ground water rights, additional 6.71 AF avail.
 
•Approximately 2+ acres available for possible future expansion•Property currently nets approx. $133,000.00 per year
 
•Zoned SF-4  
  Financial Summary Actual  
Year:2007
Scheduled Gross Income:$197,550
Effective Gross Income:$193,257
Operating Expenses:$63,639
Net Operating Income:$133,913
Pre-Tax Cash Flow:$133,913
 
  Space Mix Information
No Space Mix Information Provided
 
  Debt & Equity Information
No Debt & Equity Information Provided
7/30/2007
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The information above has been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial, and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.
 
 

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