Gateway Mobile Home Park

Property Description:

Extremely stable park with long-term mostly residents an hour from Phoenix in the tourist and golf mountain community of Payson. Park is currently 100% occupied with no park-owned tenancies and seller has a waiting list for move-in’s. There is currently a severe lack of affordable housing in Payson which will only become more prominent upon opening of Arizona State University Rim Campus which is projected for 2017. Current rental rates of $375.50 are above comparables yet park is still full which illustrates pride of ownership and safety. Spaces are direct billed by APS for electricity and each tenant responsible for their own gas. Park itself is located on 4.5 acres and has paved streets which are in good condition. Manager and assistant manager currently in place and both have free rents and minimal salaries. Park is located just off Beeline Highway within seconds of countless commercial developments including Mazatal Resort and Casino, Payson Country Club, and Safeway. Park has several doublewides and a mix of older and newer homes. Selling homes in this area is no problem due to potential of second home ownership in the mountains as well as lack of local affordable housing.