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Mobile Home Park

Mountain View Estates

911 Mescalero St, Alamogordo, NM 88310

Listing Price: $1,795,000

Cap Rate
7.16%
Number of Spaces
58
Lot Size
7.02 acres
Occupancy
53.0%
Price/Space
$30,948
Spaces/Acre
8.26
Year Built
1990

Investment Overview

Mountain View Estates is a 58-site mobile home community located in Alamogordo, New Mexico. The town is about 80 miles north of El Paso, Texas. It consists of 31 park-owned mobile homes, 25 mobile home lot rents, one storage unit, and one home for the manager’s quarters. Seller represents that four of the park-owned homes are ‘over built’ meaning that four of the currently vacant lots are not useable. The four spaces can be recovered by removing decking and add-ons from the ‘over built’ lots. The property sits on over seven acres with asphalt roads throughout. The community currently operates on city water and sewer. The tenants are directly billed for the electricity from the provider and the community pays for the water, sewer, and trash utilities. The asset is located less than 15 minutes from the Holloman Air Force Base and the Gerald Champion Regional Medical Center, two major employers in the area. The Alamogordo-White Sands-Boles Acres Regional Airport is less than five miles away. The major highways Highway 70, east and west, and US Highway 54, north and south, are less than two miles from the community. The upside for an investor is to continue the park cleanup and continuing to infill the asset. Further upside in converting the Park Owned Homes to Tenant Owned Homes and installing meters to the lots to be able to bill back for water and sewer utilities. Mountain View Estates is being offered at a day one capitalization rate of 7.16 percent and a pro forma capitalization rate of 11.51 percent.

Investment Highlights

  • Park Operates on City Water and Sewer
  • Opportunity to Infill and Convert POH to TOH
  • 7.16% Day One Cap Rate / 11.51% M&M Adjusted Pro Forma Cap Rate
  • Located Near Holloman Air Force Base

Exclusively Listed By

Broker of Record

  • Ryan Sarbinoff

    First Vice President/Regional Manager

    (505) 445-6333

    License(s) NM: 20675

    New Mexico

Mobile Home Park

Mountain View Estates

Listing Price: $1,795,000

Cap Rate
7.16%
Number of Spaces
58
Lot Size
7.02 acres
Occupancy
53.0%
Price/Space
$30,948
Spaces/Acre
8.26
Year Built
1990

Investment Highlights

  • Park Operates on City Water and Sewer
  • Opportunity to Infill and Convert POH to TOH
  • 7.16% Day One Cap Rate / 11.51% M&M Adjusted Pro Forma Cap Rate
  • Located Near Holloman Air Force Base

Investment Overview

Mountain View Estates is a 58-site mobile home community located in Alamogordo, New Mexico. The town is about 80 miles north of El Paso, Texas. It consists of 31 park-owned mobile homes, 25 mobile home lot rents, one storage unit, and one home for the manager’s quarters. Seller represents that four of the park-owned homes are ‘over built’ meaning that four of the currently vacant lots are not useable. The four spaces can be recovered by removing decking and add-ons from the ‘over built’ lots. The property sits on over seven acres with asphalt roads throughout. The community currently operates on city water and sewer. The tenants are directly billed for the electricity from the provider and the community pays for the water, sewer, and trash utilities. The asset is located less than 15 minutes from the Holloman Air Force Base and the Gerald Champion Regional Medical Center, two major employers in the area. The Alamogordo-White Sands-Boles Acres Regional Airport is less than five miles away. The major highways Highway 70, east and west, and US Highway 54, north and south, are less than two miles from the community. The upside for an investor is to continue the park cleanup and continuing to infill the asset. Further upside in converting the Park Owned Homes to Tenant Owned Homes and installing meters to the lots to be able to bill back for water and sewer utilities. Mountain View Estates is being offered at a day one capitalization rate of 7.16 percent and a pro forma capitalization rate of 11.51 percent.

Exclusively Listed By

Broker of Record

  • Ryan Sarbinoff

    First Vice President/Regional Manager

    (505) 445-6333

    License(s): NM: 20675

    New Mexico

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