Current Use by Public Records
- Land
Property Details for 53390 Us Hwy
- Year built
- 1950
- Lot size
- 3.61 lot acres
- Property type
- Land
- Property subtype
- Apartment buildings
Description
Exceptional value-add opportunity in Miami, Arizona, presents a 3.61-acre property encompassing a thriving 15-unit mobile home park and a three-unit apartment building. This established business, built in 1950 and renovated in 2000, boasts a 95% occupancy rate and generates substantial monthly income: $300 per mobile home site (plus electricity) and $1700 for the apartments (plus electricity). The property includes three buildings situated on one story, with permitted zoning for manufactured homes and a ground lease in place. Four wells are on the site, although only one is currently in use. The property's strategic location near the Oak Flats and Pinto Valley mines ensures consistent tenant demand. The existing structures, including a former restaurant and trading post, offer significant potential for expansion and diversification. This Class C property, with a 1% cap rate, presents a compelling investment opportunity for those seeking a strong return on investment in a high-demand market. The 3.08 contiguous acres offer further expansion potential, with an additional half-acre parcel on Oak Lane and a second well. This is a rare chance to acquire a well-established, income-producing property with substantial upside potential in a rapidly growing region. The asking price is $795,000. APN: 106-51-015.
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
- Miami
- County
- Gila
- State
- Arizona
- Longitude
- -110.989
- Latitude
- 33.3511
