520 Prospect Ave La Junta, CO 81050
- Land
- 4.31 lot acres
Current Use by Public Records
- Land
Property Details for 520 Prospect Ave
- Lot size
- 4.31 lot acres
- Property type
- Land
Description
This exceptional 4.31-acre commercial land parcel presents a unique investment opportunity in La Junta, Colorado. Located at 520 Prospect Ave, Otero County, zip code 81050 (latitude 37.983068, longitude -103.5254733), this property offers significant potential. The land encompasses 187,744 square feet and is priced at $174,014 per acre, totaling $750,000. Currently configured as Country Edge Estates Mobile Home Park, the site includes 41 lots, with 29 occupied by tenant-owned homes. This provides immediate cash flow, while the remaining 12 vacant lots offer substantial upside potential for development and increased revenue generation through the addition of new or newer mobile homes. A key advantage is the inclusion of city water and sewer services, currently paid for by the park, representing a significant value-add for the new owner by passing these utility costs onto tenants. The property's convenient location, minutes from downtown La Junta, ensures easy access to shopping, dining, and other essential services. This presents a compelling opportunity for investors seeking a blend of immediate return and long-term growth potential in a desirable Colorado location.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- La Junta
- County
- Otero
- State
- Colorado
- Longitude
- -103.525
- Latitude
- 37.9831
