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Listed by Brett Rosenbaugh R1 New Mexico Farmington
$ 1,450,000
Est. payment | /mo
$ 1,450,000
Est. payment | /mo
Key Details
Property Type Mobile Home
Sub Type Mobile Home Park
Listing Status Pending
Purchase Type For Sale
MLS Listing ID 25-905
Property Sub-Type Mobile Home Park
Source San Juan County Board of REALTORS®
Property Description
Investor opportunity in Bloomfield, New Mexico — this 29-space mobile home park offers strong cash flow and long-term upside with a 11.5% cap rate, and 18.6% Cash on Cash Return, based on 30% down. Property has a blend of 18 park-owned and 11 tenant-owned homes, providing a balanced mix of income stability and lower maintenance demands. Homes are connected to city utilities, with each unit on separate propane. Water & Electric is currently paid by the landlord, allowing flexibility for future expense adjustments.
The park includes irrigation rights, mature trees, and a well-organized layout that enhances tenant appeal. A major operational asset is the reliable on-site maintenance person, who brings consistency and responsiveness to property maintenance. Located in a market with steady demand for affordable housing, this park presents an immediate cash-flowing investment with potential for value-add strategies through rent optimization or infill opportunities.
The owner's ongoing upgrades and renovations to all park-owned homes have enhanced the overall quality and appeal of the community. These improvements help increase demand from prospective residents, contributing to strong occupancy rates and long-term stability for the park.
Financials and rent roll available with NDA.
Financing is available with 20% Down at local bank.
The park includes irrigation rights, mature trees, and a well-organized layout that enhances tenant appeal. A major operational asset is the reliable on-site maintenance person, who brings consistency and responsiveness to property maintenance. Located in a market with steady demand for affordable housing, this park presents an immediate cash-flowing investment with potential for value-add strategies through rent optimization or infill opportunities.
The owner's ongoing upgrades and renovations to all park-owned homes have enhanced the overall quality and appeal of the community. These improvements help increase demand from prospective residents, contributing to strong occupancy rates and long-term stability for the park.
Financials and rent roll available with NDA.
Financing is available with 20% Down at local bank.
Location
State NM
County San Juan
Area Bloomfield
Direction {\"Directions to Prprty\":true}
Exterior
Garage No
Building
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Others
Pets Allowed No
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150 Washington Ave, Ste 201, Santa Fe, New Mexico, 87501, USA