Property Details for 840 Ft Ave

Year built

1975

Construction

CONCRETE

Lot size

2.73 lot acres

Property size

1,060 SF

Property type

Mobile home & RV parks

APN

106-62-064A

APU

10662064A

Description

Central Park Estates, a thriving mobile home and RV park in Sierra Vista, Arizona, presents a compelling investment opportunity. This 7.97-acre property boasts 62 sites (59 mobile home, 3 RV), currently operating at 75% occupancy. The park features oversized paved/gravel pads with 30/50-amp electricity and full hookups. City water and sewer are provided, with sub-metered billing for water, sewer, and trash passed through to residents. Electricity and natural gas are directly billed to residents. Fourteen park-owned homes are included in the sale. Recent renovations (2020-2023) include the manager's office and clubhouse. Amenities include a laundromat with leased machines, a common area with BBQ, pergola, horseshoes, and cornhole. The park's location near Fort Huachuca, the world's largest unmanned aircraft systems training facility, contributes to a strong local economy. The property's current NOI is $163,256, with a 6.34% cap rate, and a pro-forma NOI of $263,256 and a pro-forma cap rate of 10.22%. Seller financing is available with a 7-year term (5 years with 2 optional 1-year extensions), 35% down payment, and interest-only payments escalating from 3% to 6%. There is potential to add 10-12 additional RV sites. The asking price is $2,575,000 ($41,532 per pad). The property is fee simple ownership and was built between 1961 and 2017. APN numbers are 106-62-064A

Location Insight

City

Sierra Vista

County

Cochise

State

Arizona

Longitude

-110.308

Latitude

31.5645

CBSA code

43420

CBSA name

SIERRA VISTA-DOUGLAS, AZ MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments