Current Use by Public Records
- Mobile home & RV parks
Property Details for 1013 Park Ave
- Year built
- 2000
- Lot size
- 0.77 lot acres
- Property type
- Mobile home & RV parks
Description
This fee-simple mobile home park, Kremmling Central Park, presents a compelling value-add investment opportunity. Located at 1013 Park Ave, Kremmling, CO 80459, this 0.77-acre property boasts 18 units, currently operating at 100% occupancy. Built in 2000, the park features a total of 33,541 square feet and offers significant upside potential. The current Net Operating Income (NOI) is $116,859, yielding a 6.49% cap rate. Pro-forma projections indicate a NOI of $134,333 and a 7.46% cap rate, reflecting the potential for increased profitability through rent adjustments. The asking price is $1,800,000, translating to $53.67 per square foot. Situated conveniently between Summit County and Steamboat Springs, Kremmling benefits from its proximity to major ski resorts and its status as a popular hunting and fishing destination. All utilities are public and billed directly to tenants, minimizing operational expenses. Current rents are below market rates, providing immediate opportunities for rent increases. The park includes 19 tenant-owned homes and one park-owned home. This property offers a rare opportunity to capitalize on the extreme lack of affordable housing in the Kremmling/Steamboat Springs area.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Kremmling
- County
- Grand
- State
- Colorado
- Longitude
- -106.383
- Latitude
- 40.0589
