18-Unit Mobile Home
For Sale
$2,200,000
121 West Main Street, Avondale, AZ 85323
MH-zoned property combines mobile home units with apartment rentals and paved internal roads.
Property Size8,660 SF
Days on Market537
Property Features for 121 West Main Street
General Information
Standard status
Active
Size
8,660 SF
Class
C
Property subtype
MF
Zoning
MH
Additional Details
Multifamily Units
5
Building Details
Building Size
8,660 SF
Stories
1
Units
23
Listing Agency:
Park Sharks
(520) 900-9917
Listed By:
Marc Luety · License #SA637104000
(520) 900-9917
Source:
Realnex
Added: Mar 14, 2025
Changed: Aug 30
Last Checked: Aug 30 at 12:51PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Park Sharks
Investment Insights
Based on property information with market context.
This MH-zoned income property includes an 18-unit mobile home park together with 5 apartment rentals. Property improvements include paved internal roads, remodeled homes, and exterior upgrades.
The asset is located at 121 West Main Street in Avondale, Arizona, with access to the city’s established commercial and residential setting. The combination of mobile home units and apartment rentals creates a mixed residential configuration within one property.
The asset is located at 121 West Main Street in Avondale, Arizona, with access to the city’s established commercial and residential setting. The combination of mobile home units and apartment rentals creates a mixed residential configuration within one property.
Key Highlights
- 18‑unit mobile home park
- 5 apartment rentals included
- MH zoning
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$97,737
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.44%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,954,740
$2.0M
Cap Rate 7%
$1,396,243
$1.4M
Cap Rate 9%
$1,085,967
$1.1M
Market Conditions
NOI Build-Up for 8,660 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$187.1K $21.60/SF
− Vacancy
−$9.4K −$1.08/SF
EGI
$177.7K $20.52/SF
− OpEx
−$80.0K −$9.23/SF
NOI
$97.7K $11.29/SF
Area
Maricopa County, AZ
Vacancy
5.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,954,740
Cap Rate 7%
$1,396,243
Cap Rate 9%
$1,085,967
Alternative Uses
Best Use
Apartment 5plus
$1.40M
$1.22M – $1.63M
NOI $97,737 @ 7.0% cap · market cap 4.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.68M
$2.34M – $3.13M
NOI $187,514 @ 7.0% cap · market cap 8.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
489
Businesses Nearby
Explore this area
Business Placement
Demographics for 85323, AZ
44,632
Population
14,953
Households
3
Avg Household Size
29
Median Age
19%
College-Educated
81%
High-School Grad
17.7 sq mi
ZIP Area
2,522
Density / Sq Mi
$79,903
Median Household Income
$42,634
Median Earnings
$1,625
Median Rent
$335,000
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mobile home & RV park - MH-zoned property combines mobile home units with apartment rentals and paved internal roads.
Where is this mobile home & rv park located?
The property is located at 121 West Main Street Avondale, AZ.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: 18‑unit mobile home park; 5 apartment rentals included; MH zoning
