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1001 S 1st St
Lamar, CO 81052
Multifamily Property For Sale
·
186,219 SF
Investment Highlights
- VALUE-ADD OPPORTUNITY THROUGH LEASE-UP OF VACANT PADS
- ALL UTILITIES ARE DIRECTLY BILLED TO TENANTS
- MAJORITY TENANT-OWNED HOMES REDUCING OPERATIONAL INTENSITY
- STABLE OCCUPANCY WITH CONSISTENT DEMAND FOR AFFORDABLE HOUSING
Executive Summary
Pinnacle Real Estate Advisors is pleased to announce they have been retained as the exclusive marketing advisor for 1001 S 1st St in Lamar, Colorado. 1001 S 1st St is a 35-pad manufactured housing community located in Lamar, Colorado, currently featuring 21 occupied lots and 14 vacant lots. The property offers stable in-place occupancy with meaningful upside through lease-up and operational improvements.
The community is primarily comprised of tenant-owned homes, with only one park-owned home currently operating under a rent-to-own structure that will convert to full lot rent. This structure supports a lower management burden while providing an embedded increase in future income.
All utilities, including water, sewer, gas, and electric, are directly billed to tenants by the city, creating an efficient operating structure with limited landlord expense exposure.
Overall, 1001 S 1st St represents a value-add opportunity in a supply-constrained market with durable tenant demand and multiple avenues for increasing
cash flow.
The community is primarily comprised of tenant-owned homes, with only one park-owned home currently operating under a rent-to-own structure that will convert to full lot rent. This structure supports a lower management burden while providing an embedded increase in future income.
All utilities, including water, sewer, gas, and electric, are directly billed to tenants by the city, creating an efficient operating structure with limited landlord expense exposure.
Overall, 1001 S 1st St represents a value-add opportunity in a supply-constrained market with durable tenant demand and multiple avenues for increasing
cash flow.
Property Facts
| Price Per Unit | $15,714 | Building Class | C |
| Sale Type | Investment | Lot Size | 4.28 AC |
| Cap Rate | 7.91% | Building Size | 186,219 SF |
| No. Units | 35 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1999 |
| Property Subtype | Manufactured Housing/Mobile Home | Opportunity Zone |
Yes
|
| Price Per Unit | $15,714 |
| Sale Type | Investment |
| Cap Rate | 7.91% |
| No. Units | 35 |
| Property Type | Multifamily |
| Property Subtype | Manufactured Housing/Mobile Home |
| Building Class | C |
| Lot Size | 4.28 AC |
| Building Size | 186,219 SF |
| No. Stories | 1 |
| Year Built | 1999 |
| Opportunity Zone |
Yes |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 35 | - | - |
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