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Association of Georgia Real Estate Exchangors

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Single Family Home

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CONTROL: Exclusive VALUE: $400,000
    LOAN: $320,000
    EQUITY: $80,000
TITLE: SMALL MOBILE HOME PARK IN ROCKY FORD COLORADO
TYPE OF PROPERTY: Mobile Home/RV
HAVE: 16 space Mobile Home park with 14 park owned trailers and a 3/1 house with 2 car garage. Mostly vacant and in serious need of repair. Many homes are not currently livable.
WEBSITE ADDRESS: https://ppmls.mlsmatrix.com/matrix/shared/HhzG8B7kXs/1401ChestnutAvenue
PARCEL#: 4443-181-0600    
CITY, STATE: Rocky Ford, US COUNTY: CO
BENEFITS TO NEW OWNER: Some existing income and tons of upside. Onsite manager in place. Existing debt in place.
GROSS SCHEDULED INCOME: $130,000    Projected
VACANCY LOSS: $40,000
GROSS EFFECTIVE INCOME: $90,000
EXPENSES: $40,000
NOI: $50,000
DEBT SERVICE: $32,400
CASH FLOW: $17,600
CAP RATE: 12.50%
ENCUMBRANCES: BALANCE: PAYMENT: RATE: DUE: ASSUMABLE:
LOAN 1: $320,000 $2,700 7.00% 2023 N
LOAN 2:      
BENEFITS SOUGHT: Out of Title
CAN ADD: Broker could help with additional inventory if it slaves the problem.
REMARKS: My clients can provide financing with a small down payment or would take a small house anywhere in the country. One client is a truck driver who drives coast to coast.
COUNSELOR: Blake Allen, EMS, CCIM
Allen Realty
108 Canon Ave
Manitou Springs, CO 80829
Phone: (719) 685-0707
Cell: (719) 684-4123
Fax: (719) 685-0400
blakeallenrealty@gmail.com
 
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