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Hicks MHP 314 W 14th St 59 Unit Mobile Home Park $1,025,000 ($17,373/Unit) 8.75% Cap Rate Clovis, NM 88101
Investment Highlights
- 59-site community on 6.29 acres, including 54 MH sites and 5 apartment units.
- Below-market average lot rents (~$415) with proven potential to reach $485–$525.
- Substantial occupancy upside with current occupancy at approximately 37%.
- On public utilities; residents own their homes, reducing replacement and maintenance obligations.
Executive Summary
On public utilities, Hicks is the rare,
manufactured home community where
all the residents own the homes. Only
39% occupied, this 59-site park offers
a great value-add opportunity for an
investor to bring in homes (something
this current ownership group has not
done) and fill them to grow occupancy
and revenue.
– Additionally, there appears to be a strong rent upside
story. Current average lot rents of ~$415/month sit
well below estimated market levels of $485–$525/
month, providing an immediate path to revenue growth
through rent increases. Nearby comparable product also
supports this strong rent growth story, with surrounding
apartments and single-family homes renting for
$1,200+, thus further demonstrating the below market
rents at the subject community.
– Site sizes are sufficient to accommodate newer, more
modern singlewide homes. Additionally, there could be
flexibility to utilize vacant sites for RVs as an additional
revenue stream.
– Conveniently located in the heart of Clovis, NM, Hicks
sits just one block from a grocery store and multiple
restaurants and a short drive from a variety of retail and
entertainment options on Prince Street, making this an
attractive home base for tenants. Located approximately
7 miles from Cannon Air Force Base, the community
benefits from a consistent influx of military personnel
and support staff, underpinning long-term housing
demand.
– Buyer may obtain a new loan; however, Seller financing
might be available for a qualified buyer.
manufactured home community where
all the residents own the homes. Only
39% occupied, this 59-site park offers
a great value-add opportunity for an
investor to bring in homes (something
this current ownership group has not
done) and fill them to grow occupancy
and revenue.
– Additionally, there appears to be a strong rent upside
story. Current average lot rents of ~$415/month sit
well below estimated market levels of $485–$525/
month, providing an immediate path to revenue growth
through rent increases. Nearby comparable product also
supports this strong rent growth story, with surrounding
apartments and single-family homes renting for
$1,200+, thus further demonstrating the below market
rents at the subject community.
– Site sizes are sufficient to accommodate newer, more
modern singlewide homes. Additionally, there could be
flexibility to utilize vacant sites for RVs as an additional
revenue stream.
– Conveniently located in the heart of Clovis, NM, Hicks
sits just one block from a grocery store and multiple
restaurants and a short drive from a variety of retail and
entertainment options on Prince Street, making this an
attractive home base for tenants. Located approximately
7 miles from Cannon Air Force Base, the community
benefits from a consistent influx of military personnel
and support staff, underpinning long-term housing
demand.
– Buyer may obtain a new loan; however, Seller financing
might be available for a qualified buyer.
Property Facts
| Price | $1,025,000 | Building Class | C |
| Price Per Unit | $17,373 | Lot Size | 0.82 AC |
| Sale Type | Investment | Building Size | 10,000 SF |
| Cap Rate | 8.75% | Average Occupancy | 38% |
| No. Units | 59 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1962 |
| Property Subtype | Manufactured Housing/Mobile Home |
| Price | $1,025,000 |
| Price Per Unit | $17,373 |
| Sale Type | Investment |
| Cap Rate | 8.75% |
| No. Units | 59 |
| Property Type | Multifamily |
| Property Subtype | Manufactured Housing/Mobile Home |
| Building Class | C |
| Lot Size | 0.82 AC |
| Building Size | 10,000 SF |
| Average Occupancy | 38% |
| No. Stories | 1 |
| Year Built | 1962 |
1 1
Fairly walkable
50/100
Very drivable
80/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 042820001103301 | Improvements Assessment | $982 |
| Land Assessment | $0 | Total Assessment | $982 |
Property Taxes
Parcel Number
042820001103301
Land Assessment
$0
Improvements Assessment
$982
Total Assessment
$982
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Hicks MHP | 314 W 14th St
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