Mobile Home Park in Picturesque Taos, NM For Sale

Withdrawn Multi-Family for Sale
Catylist Listing ID: 30163306
Property Subtypes: Mobile Home Park
Number of Units: 32 Units
Building Size (RSF): 4,400 SF
Gross Building Area: See Agent
Gross Land Area: 3.18 SF
Sale Price: $1,375,000
Unit Price: $42,968.75 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: 8.08%
Withdrawn On: 11/10/2017
Last Updated: 11/10/2017

Overview / Comments

The property is easily accessible in one of the most desirable areas of the town, just off Taos’ main drag, Paseo del Pueblo Sur (State Highway 68). It is also conveniently located near all of Taos’ primary services and shopping, including Walmart, which is directly across the street.

The property has minimal landlord responsibility, low maintenance costs and no amenities. The property also has value as a commercial site and could be redeveloped in the future: The land value alone is justified by the purchase price ($9.92/SF for 3.18 acres).

As a fringe benefit, new owner can enjoy a vacation while visiting this asset: Taos is a world famous destination for tourists, artists, and celebrities and features some of the worlds best dining and sight-seeing.

The buyer of this property has the opportunity to significantly increase NOI by increasing rates to market and billing back operating expenses. With these simple changes, pro-forma cash on cash return could be nearly 14% (see pro-forma included in the following page.

Attachments & Media

Additional Details

Nearest MSA: Taos
County: Taos
Percent Occupied: 9,680%
Property Condition: Good

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,361 8,256 11,628
Median Age: 41.95 44 43.47
Households: 1,943 3,866 5,355

Contact

Photograph of Listing Agent

Alfredo Barrenechea

Absolute Investment Realty CARNM CIE Member
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