Village Mobile Home Park

Property Description:

We are happy to announce to the market Village Mobile Home Park, a 54-space, 55+ community located in Tucson, Arizona within 3 miles of all major Tucson employers, city hospital, and within walking distance of countless commercial developments and
shopping. The property is serviced by municipal water and sewer and electric is submetered to each tenant.
Southwest Gas is direct-billed where available. The roads are paved and the tenancy is very stable with 55+ designation. Market vacancy is 7% however due to unsold homes Village is at over 20% despite rents being under market and utilities not passed through. Broker believes a local realtor team could streamline home sales and increase occupancy almost immediately. Easy upside in space rents (market around $375-$400) and passing through water, sewer, and trash costs. Basis is under $40,000 per site which is attractive for this quality of community in this market. Recent improvements include replacing main sewer line from clay to plastic and rehabbing homes which are currently being sold. Said homes which have a sales consideration of $90,000 are included in the sale. Broker believes this is the ideal investment for this market – immediate upside, ability to obtain attractive financing, and stable tenancy due to 55+/fixed income tenant demographic. This will not last long!