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225 N 10th Cottonwood, AZ 86326
Sold Price $283,500
List Price $299,900
3,408 sq ft

Courtesy of Better Homes And Gardens Real Estate Bloomtree Realty.

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Carissa Maxwell

Carissa Maxwell

Seller’s Co-Agent

#LC BR649020000

Property Description

This 8 Unit Mobile Home Park is long established and is a rare investment opportunity offering great current cash flow plus excellent upside potential that requires minimum additional investment capital. Two of the 8 units require renovation and/or replacement. Fully assumable in place financing ($230,000 at 5% P&I with 17 year amortization) is available to qualified buyers. Offered at $299,900 and with a $69,900 down payment this property is estimated to produce up to approx. 12.8% cash on cash return on existing income with a going in CAP rate of approx. 9.7% with only 6 units in operations. With an additional capital investment estimated at $40,000 for 2 additional used units, the cash on cash increases to approx. 18.0% with a projected CAP rate of approx. 13.3%.

Property Details & Features

Property Type

  • 5+ Units

Year Built

  • 1970

Listing

  • Source: Prescott Area
  • Listing date: 20131206193946638161000000
  • REO/short sale?: Not Applicable
  • Rent/lease: No
  • $88 per square foot
  • 183 agent days on market

House

  • Approximately 3,408 square feet
  • Built in 1970
  • 1 story
  • 8 buildings

Location

  • County: Yavapai

Lot

  • Approximately 0 acres
  • Lot number: 0

Property

  • Property type: D
  • Zoning: R-4

Taxes

  • Taxes: $557
  • Tax year: 2013

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