sky harbor mhp & apartments

• $1,885,000 Sales Price

• 33 Total Units:

- 15 mobile home lots

- 11 Studio Apartments

- 6 One Bedroom Apts

- 2 Bedroom House

• Apartment Rents Include Utilities

• City Water & Sewer

• Under Market Rents

• Opportunity Zone

• Development/Land Bank

Directly on Light Rail

John Sheedy, Vice President

[email protected]

Cell: 602.821.4666 Fax: 480.717.6955

PROPERTY OVERVIEW:

For more information, contact exclusive listing agent:

HAVING NO REASON TO BELIEVE OTHERWISE, PARK BROKERAGE DOES NOT

GUARANTEE INFORMATION WITHIN IS ACCURATE 5070 N 40th St, PHOENIX, AZ 85018

Sky Harbor MHP & Apartments 2532 E. Washington St.

Phoenix, AZ 85034

Ben Cummings, Associate

[email protected]

Cell: 480.467.8990


Phoenix, AZ 85034

For more information, contact: JOHN SHEEDY | [email protected] | 602.821.4666

BEN CUMMINGS | [email protected] | 480.467.8990

Sky Harbor MHP & Apartments

Net Operating Income year 1: $118,855.00

Total Annual Debt Service year 1: $75,437.64

Cash Flow: $43,418

Projected Cash on Cash Return: 5.7%

Bank to lend in the amount of $1,131,000 with 40%

down payment ($754,000) at 4.5% interest amortized

over 25 years. Monthly payments to be $6,286.47 or

$75,437.64 annually.

Sky Harbor MHP & Apartments is a fifteen space all-ages mobile

home community with 11 cottages ranging from 201 square feet to 572 square

feet, a 6-unit apartment and a 1,216 square foot two bed and two bath bedroom

house located in the city of Phoenix, Arizona. The buildings on the property were

constructed between 1930 and 1954 and the park has paved roads. The rents at

the property are very low compared to the market. There is one single family

home on property that is currently vacant. The house has five rooms, two

bedroom and two bathrooms and could easily be rented out for $1,000 per month.

The park is currently managed by the owner as well as an on-site assistant

manager that are compensated with free rent. The property is located in

downtown Phoenix just minutes from Sky Harbor International Airport and has

direct access to the light rail located on Washington Avenue that allows for quick

and easy public transportation for tenants. The property is serviced by city water

and sewer. The current apartment rents range from $400-$575 which also include

utilities and is very low compared to the market which would allow for them to be

raised closer to the $650 range. PLEASE DO NOT DISTURB TENANTS OR MANAGEMENT IF VISITING PARK. THEY ARE NOT

AWARE PARK IS FOR SALE. PLEASE KEEP THIS LISTING CONFIDENTIAL.

Expense Ratio

39.3%

Capitalization Rate

6.3%

Cash on Cash Return

5.7%

Loan

New Financing

Age Built

6-plex 1954, Cottages 1940, SFH 1930

Total Parcel Size

1.06 Acres

No. Spaces

15 mobile home sites, 11 cottages, 6-plex, 1 SFH

Water/Sewer

City/City


Phoenix, AZ 85034

Apartments & MH Park – Phoenix, Arizona

PROPERTY INFORMATION:



LOAN INFORMATION: | DEBT SERVICE:


Phoenix, AZ 85034



Financial Data – Sky Harbor MHP & Apartments

*Financial data based on appraisal completed on July 10, 2020.


Phoenix, AZ 85034



Rent Roll


Phoenix, AZ 85034



Sky Harbor MHP & Apartments

sky harbor mhp & apartments

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