Palm West Mobile Home Park

Property Description:

Located in suburban Phoenix this 141 space manufactured housing community is the perfect fit for a savvy investor who realizes the huge upside this park contains. Currently the occupancy rate is only 70% (only 100 of 141 spaces rented) while other parks in immediate area are over 90%. Park has great common areas including a pool, spa, park, and playground with basketball court. Laundry facilities on site as well. Plenty of commercial and new housing developments in the area as well as public parks and recreation centers. There is no rent control in Arizona and all utilities are either metered or passed-through. Park owners have done a very poor job of filling vacant homes. Units that should be filled sit empty due to lack of maintenance and showing poorly. Rents are way below market as well. Huge upside opportunity, please call broker for more details. Note income if approximately $36,000 not included in pro forma or actuals.