Mid Country MH & RV Park

Property Description:

Mid-Country Mobile Home and RV Park is a sixty-seven space 55+ mobile home and RV community located in the snowbird destination city of Yuma, Arizona. Mid-Country was built in 1975, has paved roads, a recent sewer infrastructure upgrade, and 42 annual and seasonal tenants which keep vacancy low. The seller is a widow and has neglected the property from an operational standpoint for last 5 years with no rent increases or advertising to attract new tenants. The rents are around 50% less than market rents with 6/6 tenants paying a mere $1160 and full-time tenants paying only $200 per month. Massive rental upside on the property with the right owner and seller will finance to accommodate such a turnaround project. Only amenity is a small restroom and shower. The property is serviced by city water and sewer, the sewer was connected approximately five years ago and infrastructure was upgraded at that time. Another perk is the electric and gas are all direct-billed not metered and read by the seller, so this offers buyer opportunity to keep maintenance costs lower and bring in full-time or annual tenants. As far as deferred maintenance, the broker believes the roads need some work and bathroom/shower area could be upgraded. There is no laundry facility or amenity, a pickleball court or converting office or manager mobile to a small clubhouse also recommended. The property operates year-around however caters to snowbirds. The park cannot be converted to an all-ages park for the duration of the seller’s loan however could be converted after payoff assuming buyer goes through proper legal channels. This one will not last long as a quality 55+ MH/RV at under $25,000 per site on city services.