Pocatello Mobile Home Community
Listing was updated at: 04/24/2019
Property Overview
Price/Rent PSF $ 2,850,000.00
Asset Type Multifamily
Trade Type Sale
SQ. FT. Available INQUIRE
Date Available 04/18/2019
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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 $178,303 NOI, which is factored from lot rent incomes only with a 7 CAP valuation. The community has 31 park owned homes, see documents for a breakdown of unit descriptions, valued at $9,768/unit. All park owned homes will sell with the park. Lot rent is $374/mo and current occupancy is 86%, there is currently 52 of the 60 lots that are filled.

Landlord pays for water utilities that are $56,815/year, all 60 lots in the Park have water meters installed and are ready to start charging back to Tenants.

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