Hoff & Leigh brings you a highly profitable mobile home park and covered land play with I-70 frontage and over 50,000 cars per day! The property is. fully leased with annual lease agreements and rent increases; the property currently generates $120,306 in annual gross income with potential for increased growth. Recent renovations including a new roof on the cabin have the property primed and ready for a hands-off investor to collect checks. The property has 6 units, all units will be owned by the Park Owner. As a covered land play, zoning allows for a variety of uses including restaurant, retail, office, and industrial. A short 40 min drive to downtown Denver and to the major ski resorts makes it ideal for ski town workers or even as short term rentals. Call us today to take advantage of this rare opportunity.
The current owner purchased the property in 2020. The property was in shambles with no income in place and needed a significant amount of work. Owner did a significant amount of value add; new roof on cabin, grading, leased up the units, updated mechanicals in the mobile homes, purchased the 2 remaining tenant-owned trailers, etc.
Key Details:
$975,000
Current Gross Income: $120,306
Current NOI: $90,759 (including 8% mgmt fee)
Current CAP Rate: 9.31% (proforma 11.49% CAP)
6 units total: 5 mobile homes and 1 cabin (All Park-Owned, new roof on cabin in 2023)
5,422sf
1.359 acre lot situated in Dumont between Denver and Ski resorts
Well Water, City Sewer and Xcel Electric/Gas
100% occupancy, No vacancies