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Mobile Home Park

Thunderbird MH-RV Park

3300 E Fry Blvd, Sierra Vista, AZ 85635

Listing Price: $3,650,000

Cap Rate
6.40%
Number of Spaces
118
Lot Size
13.22 acres
Occupancy
81.0%
Price/Space
$30,932
Spaces/Acre
8.93
Year Built
1990

Investment Overview

Thunderbird MH/RV Park is a well-located stabilized MHCRVP located in the center of Sierra Vista AZ, 1 hour away from Tucson. The community is located within 2 miles of Walmart and is only minutes away from numerous national and local employers. The community is also surrounded by single family homes and positioned right next to Chiracahua Community Health Center. Sierra Vista and Huachuca Mountain area are a premier site for bird watchers, Sierra Vista is considered the hummingbird capital and bird watchers come from all over the world. The community consists of 40 mobile home lots, 39 long term RV lots, and 37 seasonal RV lots. The back section of the park is occupied by mobile homes and long term RVs. This section is currently 99% occupied with 78 tenant owned homes/RVs with one vacant lot. The current average lot rent for the mobile homes is $408.72, long term RV is $430.21, and short term RV is $417.38. The community has public water, sewer, electric, & gas/propane. Water, sewer, and trash are being billed back but charged within the rent structure. Electric and gas/propane are directly billed. The trash is curbside and billed back. We are asking that investors submit offers at or above $3,650,000, which represents a 6.44% cap rate on current lot rental income with a proforma cap rate of 6.5%. The park has asphalt roads in the back section and gravel roads in the seasonal RV section. Thunderbird MH/RV Park has an assumable non-recourse loan with a balance of $936,225 at a 6% interest rate, 25.65% LTV, and 20-year amortization with 10 years left. You can pay off the loan with a $315,000 prepayment penalty.

Investment Highlights

  • High Occupancy
  • All Tenant Owned Homes
  • Long Term Tenants

Exclusively Listed By

Broker of Record

  • Ryan Sarbinoff

    First Vice President/Regional Manager

    (602) 687-6700

    License(s) AZ: BR675146000

    Arizona

Mobile Home Park

Thunderbird MH-RV Park

Listing Price: $3,650,000

Cap Rate
6.40%
Number of Spaces
118
Lot Size
13.22 acres
Occupancy
81.0%
Price/Space
$30,932
Spaces/Acre
8.93
Year Built
1990

Investment Highlights

  • High Occupancy
  • All Tenant Owned Homes
  • Long Term Tenants

Investment Overview

Thunderbird MH/RV Park is a well-located stabilized MHCRVP located in the center of Sierra Vista AZ, 1 hour away from Tucson. The community is located within 2 miles of Walmart and is only minutes away from numerous national and local employers. The community is also surrounded by single family homes and positioned right next to Chiracahua Community Health Center. Sierra Vista and Huachuca Mountain area are a premier site for bird watchers, Sierra Vista is considered the hummingbird capital and bird watchers come from all over the world. The community consists of 40 mobile home lots, 39 long term RV lots, and 37 seasonal RV lots. The back section of the park is occupied by mobile homes and long term RVs. This section is currently 99% occupied with 78 tenant owned homes/RVs with one vacant lot. The current average lot rent for the mobile homes is $408.72, long term RV is $430.21, and short term RV is $417.38. The community has public water, sewer, electric, & gas/propane. Water, sewer, and trash are being billed back but charged within the rent structure. Electric and gas/propane are directly billed. The trash is curbside and billed back. We are asking that investors submit offers at or above $3,650,000, which represents a 6.44% cap rate on current lot rental income with a proforma cap rate of 6.5%. The park has asphalt roads in the back section and gravel roads in the seasonal RV section. Thunderbird MH/RV Park has an assumable non-recourse loan with a balance of $936,225 at a 6% interest rate, 25.65% LTV, and 20-year amortization with 10 years left. You can pay off the loan with a $315,000 prepayment penalty.

Exclusively Listed By

Broker of Record

  • Ryan Sarbinoff

    First Vice President/Regional Manager

    (602) 687-6700

    License(s): AZ: BR675146000

    Arizona

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