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810 NW Cedar Ave Cedaredge, CO 81413

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For Sale
$1,195,000

Mobile home park with renovation and expansion potential.

Lot size:
2.00 Acres

Property Features for 810 NW Cedar Ave

General Information

Property type
Commercial
Standard status
Active
Lot size
2.00 Acres

Building Details

Year built
1966

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Listing Contact
Chad Tyler
Source: Elliman

Listing Agency: Tyler Duncan Realty Partners, Inc. Listing Agent: Chad Tyler

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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Overview

Nine-Unit Mobile Home Park Investment

This property presents an investment opportunity with a nine-unit mobile home park, accompanied by three additional lots available for lease or for placing additional trailers or manufactured homes. The park features seller-owned units, with eight currently leased and one vacant unit requiring minor renovations. Over the past two years, approximately $300,000 has been invested in renovations to the eight leased units and grounds. The original construction dates of the units range from 1966 to 1983, with the renovated units now modernized. The in-place net operating income (NOI) of $102,296 yields an 8.56% capitalization rate, with potential upside from the vacant trailer and the three additional lots. Upon full lease-up and accounting for a 5% market vacancy, the projected cash-on-cash return with a 70% loan-to-value (LTV) ratio is 12.55%. The property is located in Cedaredge, Colorado, near the Grand Mesa.
Location Intelligence

Current Use by Public Records

Mobile home & RV ...

Suggested Use

Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

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City
Cedaredge
County
Delta
State
Colorado
Longitude
-107.9331816
Latitude
38.9055599

FAQs

What type of property is this?
Mobile home & RV park - Mobile home park with renovation and expansion potential.
Where is this mobile home & rv park located?
The property is located at 810 NW Cedar Ave Cedaredge, CO.
What is the asking price?
The asking price for this property is $1,195,000.
What are key features of this property?
This property features: - High in-place NOI of $102,296, generating an 8.56% CAP Rate.; - Significant renovation investment of approximately $300,000 in the last 24 months.; - Opportunity to increase income with 1 vacant unit and 3 additional lots for lease or development.
More about this property
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