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810 NW Cedar Ave 9 Unit Mobile Home Park $1,195,000 ($132,778/Unit) 8.67% Cap Rate Cedaredge, CO 81413
Investment Highlights
- The in-place NOI of $102,296 generates an 8% CAP Rate.
Executive Summary
Great investment opportunity with this 9-Unit mobile home park, along with 3 extra lots to lease out or place additional trailers/manufactured homes. All units are park/Seller owned, with 8 currently leased, and 1 vacant needing nominal renovations. Over the last 24+- months the 8 units, and grounds have undergone approx. $300,000 in renovations (original dates of units range from 1966-1983, albeit the 8 renovated are modernized). The in-place NOI of $102,296 generates an 8.56% CAP Rate, with upside from the 1 vacant trailer, and 3 lots. Upon full lease-up and a 5% Mkt. Vacancy the projected cash-on-cash return with a 70% LTV is 12.55%. Nestled at the foot of Colorado’s Grand Mesa, Cedaredge is a charming mountain town where small-town hospitality meets breathtaking natural beauty. With its sweeping views, mild four-season climate, and rich agricultural heritage, Cedaredge offers a slower pace of life surrounded by orchards, vineyards, and scenic trails. Listing agent is brother-in-law of Seller. Don’t miss this awesome investment Opp, call or email now to tour the property! Lucinda Stanley is Co-Listing agent and showing contact 970-201-2152.
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,195,000 | Property Subtype | Manufactured Housing/Mobile Home |
| Price Per Unit | $132,778 | Building Class | C |
| Sale Type | Investment | Lot Size | 2.00 AC |
| Cap Rate | 8.67% | Building Size | 8,300 SF |
| Gross Rent Multiplier | 10.23 | Average Occupancy | 89% |
| No. Units | 9 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1974/2024 |
| Price | $1,195,000 |
| Price Per Unit | $132,778 |
| Sale Type | Investment |
| Cap Rate | 8.67% |
| Gross Rent Multiplier | 10.23 |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Manufactured Housing/Mobile Home |
| Building Class | C |
| Lot Size | 2.00 AC |
| Building Size | 8,300 SF |
| Average Occupancy | 89% |
| No. Stories | 1 |
| Year Built/Renovated | 1974/2024 |
Amenities
Unit Amenities
- Air Conditioning
Site Amenities
- 24 Hour Access
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 12 | - | - |
1 1
Property Taxes
| Parcel Number | R002536 | Total Assessment | $6,822 |
| Land Assessment | $5,220 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $1,602 | Tax Year | 2024 |
Property Taxes
Parcel Number
R002536
Land Assessment
$5,220
Improvements Assessment
$1,602
Total Assessment
$6,822
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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810 NW Cedar Ave
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