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$ 1,295,000
Est. payment | /mo
2 Acres Lot
$ 1,295,000
Est. payment | /mo
2 Acres Lot
Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 9211359
HOA Y/N No
Year Built 1966
Annual Tax Amount $539
Tax Year 2024
Lot Size 2.000 Acres
Acres 2.0
Property Sub-Type Multi Family
Source recolorado
Property Description
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% 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 11.05%. 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!
Location
State CO
County Delta
Zoning R3
Interior
Fireplace N
Exterior
Parking Features Gravel
Utilities Available Electricity Available
Roof Type Metal
Garage No
Building
Lot Description Corner Lot, Foothills, Landscaped
Sewer Public Sewer
Water Public
Structure Type Metal Siding
Others
Acceptable Financing Cash
Listing Terms Cash
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6455 S. Yosemite St., Suite 500 Greenwood Village, CO 80111 USA
6455 S. Yosemite St., Suite 500 Greenwood Village, CO 80111 USA
Listed by Tyler Donegan Duncan Real Estate Services, Inc.
Making real estate fun, simple and stress-free!