The information contained herein is believed to be reliable. While we do not doubt the accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Absolute Investment Realty 105 Jefferson St. NE Albuquerque, NM 87108 505-346-6006 www.go-absolute.net Mobile Home Park in Picturesque Taos, NM for Sale Enchanted Mobile Home Park 112 Camino de la Merced & 1018 Reed Street, Taos, NM 87571 Features: 32 Unit Park Stable, Long Term Tenants Low Maintenance Asset Estimated Cash on Cash Return: 11.26% Excellent Location Desirable Taos, NM Market Below Market Rents Sale Price: $1,375,000 Cap Rate: 8.08% NOI: $111,060 Alfredo Barrenechea [email protected]505-401-0135 # Units: 32 Land Size: +/- 3.18 Acres Occupancy: 96.80%
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Mobile Home Park in Picturesque Taos, NM for Saleimages2.loopnet.com/d2/Gn7aAF1N9mFldZ52VRHAdCE4NtBx_O2ZdYeitrxfJ2o/...Well Management $7.81 $93.75 $250.00 $3,000.00 Sewer & Refuse
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The information contained herein is believed to be reliable. While we do not doubt the accuracy, we havenot verified it and make no guarantee, warranty or representation about it. It is your responsibility toindependently confirm its accuracy and completeness.
A b s o l u t e I n v e s t m e n t R e a l t y1 0 5 J e f f e r s o n S t . N EA l b u q u e r q u e , N M 8 7 1 0 8
505-346-6006www.go-absolute.net
Mobile Home Park in Picturesque Taos, NM for Sale
Enchanted Mobile Home Park1 1 2 C am i n o d e l a Merced & 1 01 8 R eed Street , Taos , NM 87 5 7 1
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A b s o l u t e I n v e s t m e n t R e a l t y1 0 5 J e f f e r s o n S t . N EA l b u q u e r q u e , N M 8 7 1 0 8
Absolute Investment Realty is pleased to present thisrare opportunity to acquire a 32 unit, fully operatingmobile home park in one of the most desirable tradeareas in the southwestern, US. Located in the heart ofTaos, NM, this cash-flowing investment opportunity islow maintenance with a long history of stable tenants.
The property is easily accessible in one of the mostdesirable areas of the town, just off Taos’ main drag,Paseo del Pueblo Sur (State Highway 68). It is alsoconveniently located near all of Taos’ primary servicesand shopping, including Walmart, which is directly acrossthe street.
The property has minimal landlord responsibility, lowmaintenance costs and no amenities. The property alsohas value as a commercial site and could be redevelopedin the future: The land value alone is justified by thepurchase price ($9.92/SF for 3.18 acres).
As a fringe benefit, new owner can enjoy a vacation whilevisiting this asset: Taos is a world famous destination fortourists, artists, and celebrities and features some of theworlds best dining and sight-seeing.
The buyer of this property has the opportunity tosignificantly increase NOI by increasing rates to marketand billing back operating expenses. With these simplechanges, pro-forma cash on cash return could be nearly14% (see pro-forma included in the following page.
Trade Area DemographicsRadius 1 Mile 3 Mile 5 Mile
Population (2016 Estimate) 3,410 13,674 18,521
Avg HH Income (2016 est) $40,241 $36,039 $39,753
Taos, NM MSAEnchanted Mobile Home Park
1 1 2 C am i n o d e l a Merced & 1 01 8 R eed Street , Taos , NM 87 5 7 1
Site Close Up
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5 0 5 - 4 0 1 - 0 1 3 5505-346-6006
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A b s o l u t e I n v e s t m e n t R e a l t y1 0 5 J e f f e r s o n S t . N EA l b u q u e r q u e , N M 8 7 1 0 8
Sun God’s Lodge
Story Teller Cinema
SITESITE
Taos Java
Investment Highlights
Low Maintenance & Overhead
Below Market Rents
Desirable Location – Taos, NM
Priced at Land Value
Stable, Long Term Tenants
Enchanted Mobile Home Park1 1 2 C am i n o d e l a Merced & 1 01 8 R eed Street , Taos , NM 87 5 7 1
Asset Details & Financial Summary
505-346-6006www.go-absolute.net
A b s o l u t e I n v e s t m e n t R e a l t y1 0 5 J e f f e r s o n S t . N EA l b u q u e r q u e , N M 8 7 1 0 8
Asset Details
Property Address:112 Camino de la Merced & 1018 Reed Street, Taos, NM 87571
Property Type: Mobile Home Park
Property Size:+/- 3.18 Acres. 112 Camino de la Merced: 1.36 Acres, 1018 Reed Street: 1.82 Acres
Unit Types: Single Wide
Zoning: C2 (112 Camino de la Merced), C1 (1018 Reed Street)
Access:Excellent access Via Camino de la Merced & Reed Street & Dea Lane with private drives.
Visiblity: Good visibility. Visible from HWY 68
Signage:None. Potential for good signage depending on zoning restrictions
Highest and Best Use: Mobile Home Park, Multi-Family or Commercial
Market Demand:
Strong investor demand for low-income housing, including mobile home parks. Historically, Taos has low vacancy rates and few options for low income renters.
Trade Area:The trade area consists of the town of Taos, NM and the surrounding rural areas of Northern New Meixco.
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Asset Financial Summary
Sale Price: $1,375,000
NOI: $111,060
Cap Rate: 8.08%
Estimated Cash on Cash Return*: 11.26%
Number of Units: 32
Occupancy: 97%
Price / Unit $42,969
Land Value ($/SF) $9.93
* Calculated using market rate financing assumptions
Enchanted Mobile Home Park1 1 2 C am i n o d e l a Merced & 1 01 8 R eed Street , Taos , NM 87 5 7 1
A b s o l u t e I n v e s t m e n t R e a l t y1 0 5 J e f f e r s o n S t . N EA l b u q u e r q u e , N M 8 7 1 0 8
This financial analysis is based on information the broker believes to accurately represent thefinancial performance of the property. However, neither the broker nor owner can guarantee thefuture financial performance of this asset and make no representations as such.
Estimated Cash on Cash Return: 11 .26%B a s e d o n m a r k e t f i n a n c i n g t e r m s & c o n d i t i o n s
Property Data Size (Acres) # Units
125 Camino de La Merced 1.36 16
Reed Street 1.82 16
3.18 32
2016 Actual & 2017 Estimated Income & Expenses
Income
Unit Units Per Unit/Mo Per Unit/Yr Total per Mo Total Per Year
Mobile Home Space 32 $365.00 $4,380.00 $11,680.00 $140,160.00
Vacancy Factor
Mobile Home Space 1 $365.00 $4,380.00 $365.00 $4,380.00
Adjusted Gross Income 31 $365.00 $4,380.00 $11,315.00 $135,780.00
Expenses Per Unit/Mo Per Unit/Yr Total Per Month Total Per Year
Real Estate Taxes $11.72 $140.63 $375.00 $4,500.00
Insurance $3.13 $37.50 $100.00 $1,200.00
Well Management $7.81 $93.75 $250.00 $3,000.00
Sewer & Refuse $26.56 $318.75 $850.00 $10,200.00
Common Area Electricity $3.75 $45.00 $120.00 $1,440.00
A b s o l u t e I n v e s t m e n t R e a l t y1 0 5 J e f f e r s o n S t . N EA l b u q u e r q u e , N M 8 7 1 0 8
This financial analysis is intended only to be utilized as an example and is not intended to provideactual financial performance of the property marketed herein and neither the owner nor brokermake any representations as such.
This Pro Forma Financial Analysis represents potentialupside that might be realized by a buyer of theproperty. Rents have not been raised since 2013,which gives the buyer the opportunity to bring rentsto market rates. Additionally, the property does notpresently charge back for any operating expenses,which may provide the buyer with another potentialsource of income.
Estimated Potential Cash on Cash Return: 15%
Pro Forma Rent Roll
Income
Unit Units Per Unit/Mo Per Unit/Yr Total per Month Total Per Year
Mobile Home Space 32 $400.00 $4,800.00 $12,800.00 $153,600.00