1447 Fatima Rd Socorro, NM 87801

Exceptional investment opportunity in Socorro, New Mexico, featuring a 10-space mobile home park and a spacious 4-bedroom, 2-bathroom modular home situated on a 3.89-acre lot. The home, built on a permanent foundation, boasts an addition, covered patio, and a 2-car carport, complemented by a newer metal roof, gas furnace, and wood-burning stove. The property is fully fenced, offering privacy and separation between the residential dwelling and the mobile home park. The park itself comprises 10 individually metered spaces, generating a monthly income of $175 per space (90% occupancy). Owner expenses are minimal, limited to a monthly trash dumpster fee of $108. The home offers additional income potential, with an estimated rental value of $1200 per month or a potential sale value of approximately $150,000. The property includes mature fruit trees (apricot, pear, apple, and plum). The park's strong performance yields a 10.28% cap rate and a net operating income (NOI) of $32,900. Average annual property taxes are $1200. This unique property presents multiple investment strategies, allowing for flexibility and potential for significant returns. The asking price for this turnkey investment is $320,000.