Highlights

• 23% Return with Park Owned Rental Income
• No Rent Control
• All Age Community

• On-Site Management in Place
• City Water, Septic
• Vacancy Upside

Description

Tower Mobile Home Park is an all-age community located in Safford, Arizona. The community consists of 67 spaces. The property consists of three parcels; 102-36-022, 102-36-003, 102-36-023. The total acreage is 6.01, which yields a density of 11.15 pads per acre.

Of the 67 spaces there are 18 RV sites, 48 mobile home spaces and one two-bedroom/one-bath apartment unit. The property is serviced by private septic and city water. Gas and electric are sub-metered to the residents. Trash and septic are included in the rent. Amenities include a clubhouse and children's playground.

It should be noted that there are 10 park owned rental homes and four vacant park owned homes. All homes are included in the sale. The current Cap Rate of 8.48% does not reflect this extra income, while it is included in the total Cash Return.

Safford, Arizona is in the southeastern portion of the state on the south bank of the Gila River. Mount Graham, the highest peak of the Pinaleno Mountains, has a marked effect on the local climate. Safford serves as the retail center for this area of Arizona, serving population 65,000. Agriculture has been the mainstay of the Safford and Graham County economy, with cotton the principal commodity.