Mobile Home Park
Minnequa Lake Mobile Home Park
2007 Belmont Avenue, Pueblo, CO 81004
Listing Price: $1,250,000
Investment Overview
Minnequa Lake Mobile Home Park is a 35-space community centrally located in Pueblo, Colorado, next to Minnequa Lake and half a mile west of St. Mary-Corwin Hospital. The 4.68-acre park was established in 1968 by the current ownership. Each spaces can accommodate a single wide home providing 70 amp electrical and city water/sewer hook-ups. Of the 35 spaces: 21 homes are resident owned, 9 homes are owned by investors, 2 homes are owned by the park and included in the sale (both vacant), and there are 3 empty lots. There is a large open space park located in the middle of the community, which could possibly be redeveloped into an income generator. Current space rent is below market at $400 per space, comparable parks charge $500+, plus water/sewer/trash is currently being paid for by the park ownership with the opportunity to submeter and/or billback these expenses.
Minnequa Lake Mobile Home Park
Investment Highlights
- Tremendous Upside - 11%+ Cap Rate Potential
- Low Price Per Lot at $35,714
- Room to Increase Rent by $100 Plus Billback for Water / Sewer / Trash
- 35 Single-Wide Lots; 4.68-Acres; Adjacent to Minnequa Lake Veteran's Memorial & Open Space
- Large Central Open Space Area in Center of Property - Potential for Amenities or Income Generation
- City Water and Sewer
- Two Park-Owned Homes Included
- Nearby Employment Includes St. Mary-Corwin Hospital (Half Mile), Corwin International Magnet School, Pueblo Community College, and the Numerous Retail, Offices, and Restaurants Along Lakeview Avenue and the Surrounding Area
Exclusively Listed By
Listing Price: $1,250,000
Investment Highlights
- Tremendous Upside - 11%+ Cap Rate Potential
- Low Price Per Lot at $35,714
- Room to Increase Rent by $100 Plus Billback for Water / Sewer / Trash
- 35 Single-Wide Lots; 4.68-Acres; Adjacent to Minnequa Lake Veteran's Memorial & Open Space
- Large Central Open Space Area in Center of Property - Potential for Amenities or Income Generation
- City Water and Sewer
- Two Park-Owned Homes Included
- Nearby Employment Includes St. Mary-Corwin Hospital (Half Mile), Corwin International Magnet School, Pueblo Community College, and the Numerous Retail, Offices, and Restaurants Along Lakeview Avenue and the Surrounding Area
Investment Overview
Minnequa Lake Mobile Home Park is a 35-space community centrally located in Pueblo, Colorado, next to Minnequa Lake and half a mile west of St. Mary-Corwin Hospital. The 4.68-acre park was established in 1968 by the current ownership. Each spaces can accommodate a single wide home providing 70 amp electrical and city water/sewer hook-ups. Of the 35 spaces: 21 homes are resident owned, 9 homes are owned by investors, 2 homes are owned by the park and included in the sale (both vacant), and there are 3 empty lots. There is a large open space park located in the middle of the community, which could possibly be redeveloped into an income generator. Current space rent is below market at $400 per space, comparable parks charge $500+, plus water/sewer/trash is currently being paid for by the park ownership with the opportunity to submeter and/or billback these expenses.
Exclusively Listed By
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