40 Unit Mobile Home Park Development Site

Vacant Land for Sale
Catylist Listing ID: 30754804
Property Subtypes: Mobile Home Park, Multi-Family
Gross Land Area: 4.52 Acres
Sale Price: $370,000
Unit Price: $81,858 Per Acre
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/18/2021

Overview / Comments

Absolute Investment Realty is proud to present this ultra-rare opportunity to own and develop a mobile home community from the ground up. 1206 Cuba Road is located just off I-25 in the college town of Socorro, NM, approximately one hour (75 miles) south of Down-Town Albuquerque.

Socorro is anchored by New Mexico Tech, the state’s premier engineering school and has strong rent comps, low rental unit supply and low vacancy rates.

Nestled in the Rio Grande Valley, this property is the ideal location for a mobile home community. Don’t miss this fantastic opportunity to get into the high barrier to entry mobile home community market.

The Property includes a single-family home with an estimated value of $100,000 and a mobile home. The single-family home is leased to a university professor for $1,000.00 per month and the mobile home is leased for $750.00 per month.

Additional Details

Nearest MSA: Albuquerque
County: Socorro
Property Visibility: Excellent
Largest Nearby Street: I-25
Highway Access: Very easy and nearby highway access to I-25.
Area Description: Socorro is in Socorro County in the U.S. state of New Mexico. Socorro is located between the state’s two largest cities. It is approximately 75 miles south of Albuquerque and 150 miles north of Las Cruces. It sits in the Rio Grande Valley at an elevation of 4,606 feet. Scientific research, defense programs, mining and agriculture are the backbones of Socorro’s economy. Socorro is home to New Mexico Institute of Mining and Technology, The Energetic Materials Research and Testing Center (EMRTC), The Frank T. Etscorn Campus Observatory, the National Radio Astronomy Observatory’s Very Large Array and Bosque del Apache National Wildlife Refuge.
Topography: Level

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 3,708 8,104
Median Age: 29.91 33.69
Households: 1,518 3,273

Contact

Photograph of Listing Agent

Alfredo Barrenechea

Absolute Investment Realty CARNM CIE Member
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