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Pocatello Mobile Home Community

Listing was updated at: 02/19/2019
Pocatello Mobile Home Community Pocatello Mobile Home Community Pocatello Mobile Home Community Pocatello Mobile Home Community Pocatello Mobile Home Community Pocatello Mobile Home Community Pocatello Mobile Home Community Pocatello Mobile Home Community

Property Overview

Price/Rent PSF $ 3,300,000.00
Asset Type Multifamily
Trade Type Sale
SQ. FT. Available INQUIRE
Date Available 02/19/2019
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Description

Location
Located in Pocatello, Idaho behind Cole Chevrolet on Yellowstone Avenue. Pocatello and Chubbuck are a combined city on both interstate 15 (North to south) and Interstate 86 (East to West)

Sale
60 lot Mobile Home Community located in Pocatello, Idaho the community is producing a $191,094 NOI, which is factored from lot rent incomes only. The community has 30 park owned homes, 2 of them are 2019 models currently on delivery for April 2019, 1 is 2018, and 1 is 1999. See documents for a breakdown of unit descriptions. all park owned homes will sell with the park. Lot rent is $374/mo and current occupancy is 78%.

There is currently 47 of the 60 lots that are filled, within the equations below will have the 47 lots as just lot rent, the 4 units on delivery with proforma numbers, and the park owned units making rental income.

Landlord pays for water utilities that are $56,815/year. Park is in the final stages of having water meters installed, once this is complete tenants will be charged for water, July 2019.

Management of the park has kept up with maintenance and made significant improvements to the function and infrastructure of the park. The owner has contracted with a tree removal company to remove the trees on the North section of the park; to be completed in the Spring of 2019.

Pocatello's population is over 54,000 people with a median income of $40,000. The average age is 30 years old and is home to Idaho State University with over 12,000 students and 250 college programs that vary from Associates to Doctorates. In addition to the economics that ISU brings in with students and jobs, Pocatello's major employers include the FBI, JR Simplot and Idaho National Laboratory. Pocatello has an impressive 3.4% unemployment rate as compared to the National average of 5.2%.

Location

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