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Browse More Listings in Multifamily For Sale, Grand Junction, CO or Colorado

Multifamily Property For Sale

Mobile City

2322 Highway 6 and Highway 50, Grand Junction, CO 81505

Price:
$4,150,000
No. Spaces:
109
Price/Space:
$38,073.39
Property Type:
Multifamily
Property Sub-type:
Mobile Home/ RV Community
Property Use Type:
Investment
Cap Rate:
9.03%
Occupancy:
98%
Year Built:
1960
Lot Size:
14.80 AC
Find Out More...

Last Verified 11/19/2009 Listing ID 16428048

Highlights

Multi-Faceted Income Property and Business
Bob Scott RV Sales - New 10-Year Lease with $3,000 Annual Increases
Mobile Home Section Under Market by $50

Many Recent Improvements to Community
Clean, Well-Maintained Community
Profitable and Growing Business for New Owner

Description

Mobile City Mobile Home Park
The mobile home portion of the business is the oldest component of the property with 60 mobile home sites. Many residents have resided here for over 20 years and are delighted with the direction management has taken since purchased over three years ago. The base lease rate is $250 per month plus add-ons with $300 being the average for other parks in the area. There are 12 park owned homes that rent on average of $800.

RV Park
There are 44 RV spaces in three sections. There are 14 pull through spaces which can accommodate any length of RV or RV with trailer. These are used primarily for tourists and rent for $35 per night or $210 per week. There are additionally two sections of back-in RV spaces that handle a variety of sizes. Space rental varies from $450 to $600 per month plus metered electric. Mobile City charges $.015 per kilowatt hour. Bresnan TV cable service has been installed to each space and is billed at $1.00 per day to long term RV residents. The RV section and indeed the park have been full to capacity for over a year with no change to the market in site.

Located in Grand Junction, Colorado.

Financial Summary

Actual
Year
2009
Net Operating Income
$374,702

Map of 2322 Highway 6 and Highway 50, Grand Junction, CO 81505 (Mesa County)

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Presented by

Marcus & Millichap

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Contact Listing Broker

Laurie Albrecht (303) 328-2000

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Created 10/12/2009

Additional Information for 2322 Highway 6 And 50, Grand Junction, CO 81505

Active For Sale - 1 Listing
Active For Lease - 0 Listing
Previously Listed - 0 Historic Listing
Sales Comparables Available - 0 RecentSales Record

View additional information for the property view other currently active listings, previous listings, sales comparables, public records, and county records data for this address.

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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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Multifamily Property For Sale - Mobile City

2322 Highway 6 and Highway 50, Grand Junction, CO, 81505