Mobile Home Park in Picturesque Taos, NM · 2019-07-23 · Property Detail Possible Additional...

Alfredo Barrenechea505-401-0135

[email protected]

Mobile Home Park in Picturesque Taos, NM112 Camino de la Merced & 1018 Reed Street, Taos, NM 87571Absolute Investment Realty | 131 Madison St NE Ste. 200 Albuquerque, NM 87108 | 505-346-6006 | [email protected]

Sale Price: $1,370,000

Cap Rate: 8.68%

NOI: $118,968

# Units: 32

Land Size: +/- 3.18 Acres

Occupancy: 96.88%

Features:

- 32 Unit Park

- Stable, Long Term Tenants

- Low Maintenance Asset

- Estimated Cash on Cash Return: 13.69%

- Excellent Location

- Desirable Taos, NM Market

- Below Market Rents

Tosh Hoshino505-803-0387

[email protected]

mailto:[email protected]



Mobile Home Park Overview

Absolute Investment Realty is pleased to present this rareopportunity to acquire a 32 unit, fully operating mobile home park inone of the most desirable trade areas in the southwestern, US.Located in the heart of Taos, NM, this cash-flowing investmentopportunity is low maintenance with a long history of stable tenants..The property has minimal landlord responsibility, low maintenancecosts and no amenities. The property also has value as a commercialsite and could be redeveloped in the future: The land value alone isjustified by the purchase price ($9.92/SF for 3.18 acres). As a fringebenefit, new owner can enjoy a vacation while visiting this asset: Taosis a world famous destination for tourists, artists, and celebrities andfeatures some of the worlds best dining and sight-seeing. The buyerof this property has the opportunity to significantly increase NOI by

billing back operating expenses.

Property & Investment Summary

Tenant: Mobile Home Park

Property Address:112 Camino de la Merced & 1018 Reed Street, Taos, NM 87571

Property Description: Mobile Home Park

Property Size: 3.18 Acres

Sale Price: $1,370,000/($9.92/SF)

Number of Slots 32 Units

Access: Good – multiple access points

Area Features:Located adjacent to Walmart. Near multiple shopping and dining options

Visiblity: Good

Signage: Excellent

Highest and Best Use: Mobile Home Park / Multi-Family

Trade Area Description: Small Town MSA

The information contained in this marketing package is believed to be reliable. While we do notdoubt the accuracy, we have not verified it and make no guarantee, warranty or representationabout it. It is your responsibility to independently confirm its accuracy and completeness.Additionally, this package and the information contained herein is intended only for parties with abonified interest in the lease or purchase of this property and should not be distributed otherwise.


[email protected] Investment Realty | 131 Madison St NE Ste. 200 Albuquerque, NM 87108 | 505-346-6006 | [email protected]

Mobile Home Park in Picturesque Taos, NM112 Camino de la Merced & 1018 Reed Street, Taos, NM 87571


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Asset Details

Property Address:112 Camino de la Merced & 1018 Reed Street, Taos, NM 87571

Property Type: Mobile Home Park

Property Size:+/- 3.18 Acres. 112 Camino de la Merced: 1.36 Acres, 1018 Reed Street: 1.82 Acres

Unit Types: Single Wide

Zoning: C2 (112 Camino de la Merced), C1 (1018 Reed Street)

Access:Excellent access Via Camino de la Merced & Reed Street & Dea Lane with private drives.

Visiblity: Good visibility. Visible from HWY 68

Signage:None. Potential for good signage depending on zoning restrictions

Highest and Best Use: Mobile Home Park, Multi-Family or Commercial

Market Demand:

Strong investor demand for low-income housing, including mobile home parks. Historically, Taos has low vacancy rates and few options for low income renters.

Trade Area:The trade area consists of the town of Taos, NM and the surrounding rural areas of Northern New Meixco.

Asset Financial SummarySale Price: $1,370,000

NOI: $118,968

Cap Rate: 8.68%

Estimated Cash on Cash Return*: 13.69%

Number of Units: 32

Occupancy: 97%

Price / Unit $42,813

Land Value ($/SF) $9.89

* Calculated using market rate financing assumptions

Asset Details and Financial Summary





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Property Detail

Possible Additional Space

Possible Additional Space

Any additional spaces must be confirmed &

approved by the buyer & the governing municipal

authority.




Possible

Additional

Space


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Income and Expenses

Estimated Cash on Cash Return: 13 .69%B a s e d o n m a r k e t f i n a n c i n g t e r m s & c o n d i t i o n s2 5 y e a r a m , 5 . 0 0 % I n t e r e s t , 2 5 % d o w n

The property does not presently chargeback for any operating expenses, whichmay provide the buyer with anotherpotential source of income.





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Mobile Home Park

125 Camino de Merced, Reed Street

Taos, NM 87571

Property Data Size (Acres) # Units

125 Camino de La Merced 1.36 16

Reed Street 1.82 16

3.18 32

2019 Income & Expenses

Income

Unit Units Per Unit/Mo Per Unit/Yr Total per Mo Total Per Year

Mobile Home Space 32 $385.00 $4,620.00 $12,320.00 $147,840.00

Vacancy Factor

Mobile Home Space 1 $385.00 $4,620.00 $385.00 $4,620.00

Adjusted Gross Income 31 $385.00 $4,620.00 $11,935.00 $143,220.00

Expenses Per Unit/Mo Per Unit/Yr Total Per Month Total Per Year

Real Estate Taxes $11.72 $140.63 $375.00 $4,500.00

Insurance $3.13 $37.50 $100.00 $1,200.00

Well Management $7.81 $93.75 $250.00 $3,000.00

Sewer & Refuse $24.72 $296.63 $791.00 $9,492.00

Common Area Electricity $3.75 $45.00 $120.00 $1,440.00

Property Management $12.03 $144.38 $385.00 $4,620.00

Total Expenses $63.16 $757.88 $2,021.00 $24,252.00

NOI $321.84 $3,862.13 $9,914.00 $118,968.00




Trade Area Map




Trade Area DemographicsRadius 1 Mile 3 Mile 5 Mile

Population (2016 Estimate) 3,410 13,674 18,521

Avg HH Income (2016 est) $40,241 $36,039 $39,753

SITES


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Site Close Up & Location Description

LOCATION DESCRIPTION

The property is easily accessible in one of the most desirable areas of the town, just off Taos’ main drag, Paseo del Pueblo Sur (State Highway 68). The visibility from Highway 68has excellent visibility and also makes it easy for tenants to travel to other parts of town. It is also conveniently located near all of Taos’ primary services and shopping, includingWalmart, which is directly across the street. Its easy access is conveniently right next to private drives, and has potential for great signage, which will attract the attention of morerenters. Since this property is ideal for low income boarders, some affordable restaurants such as Five Star Burgers and Pizza Hut right down the road make the area desirable. USBank, Aaron’s, NAPA Auto Parts and Story Teller Cinema are also in the area which have been local hot spots for some time.



North Park Apartments


Sun God’s

Lodge

Story Teller

Cinema

SITESITE

Taos Java

Investment Highlights

Low Maintenance & Overhead

Desirable Location – Taos, NM

Priced at Land Value

Stable, Long Term Tenants


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32 Spaces

Excellent Access

Scenic Views

Beautiful mountain views

Large single wide lots




Property Pictures


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Demographics

Households by Income – 1 Mile

Population – 1 Mile

Housing Values – 1 Mile





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Absolute Investment Realty | 131 Madison St NE Ste. 200 Albuquerque, NM 87108 | 505-346-6006 | [email protected]

Taos, NM MSA


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Taos is located along the border of the world famous Rio Grande River gorge andthe scenic mountains of the Carson National forest in Northern New Mexicobetween the Colorado border and Espanola. Taos is famous as a destination forartists, tourists, skiers, and adventure seekers. This bustling Northern New Mexicocommunity is also home to movie stars and celebrities such as Julie Roberts.

Taos thrives on its tourist destinations such as Taos Pueblo, the Rio Grande RiverGorge, and the world renown Taos Ski Valley. Taos Pueblo is a Unesco WorldHeritage site, has been occupied for nearly a millennium, and is considered to beone of the of the oldest continuously inhabited communities in the United States.Taos is the county seat of Taos county and the primary destination for goods andservices for communities north of Espanola/Santa Fe, NM. In addition to high-endtourist shopping and dining, the town has major retailers such as Walmart, grocerssuch as Smith’s and Albertsons, and all primary fast food restaurants such asWendy’s, McDonald’s and Taco Bell.


SITE


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Absolute Investment RealtyWho We AreAbsolute Investment Realty is an investment oriented commercial realestate brokerage firm focused on helping our clients meet theircommercial real estate investment goals. Our clients range fromprivate local investors to multi-national REITS. We have closedtransactions throughout the United States and from around theworld. No job is too small or too large for our dedicated team ofprofessionals. We are experts on current market conditions andprovide expert advise on the best pricing and buying or sellingstrategies. We have industry wide connections and make it a policy towork hand in hand with our peers, principals and institutions to getthe deal done. We are second to none in our ability to identify, sell orlease investment quality real estate.

Our MissionAbsolute Investment Realty’s mission is to help our clients achievetheir commercial real estate goals.

How We Help Our Clients SucceedOur firm excels because we execute with attention to detail,exceptional financial analysis capabilities, second to none marketknowledge, and the highest level of customer service.

We start by understanding our client’s needs and working closely withthem to develop a customized acquisition, disposition, leasing ordevelopment plan specifically designed to help our clients reach theirgoals as expeditiously as possible.

Awards and AccoladesAwarded to the top 5 brokerage firms in NM, Absolute InvestmentRealty has achieved the coveted Costar Power Broker Award everyyear we’ve been in business.

Alfredo BarrenecheaQualifying Broker

Alfredo specializes in the acquisition and disposition of investment real estateand has experience in closing large industrial, office, and hospitalitytransactions. With over 12 years of experience in the commercial real estateindustry as a developer, landlord and broker Alfredo has worked with nation’stop tenants, investors and real estate investment companies. Alfredo has apassion for helping his clients meet their real estate investing goals and excelsat closing complicated transactions. Alfredo has a an MS in ElectricalEngineering and a BS in Computer Engineering from the University of NewMexico and is a member of CARNM and ICSC.

Some of Alfredo’s Recent Transactions

Tosh HoshinoAssociate Broker

Tosh Hoshino is a commercial real estate expert specializing in retail and multi-family, who has extensive knowledge of the local market. He has been in thecustomer service industry for 19 years, with over 10 years of experience in thehigh-end automotive industry. Tosh prides himself on the relationships he'sbuilt over the years, and is always ready to use his outstanding customerservice skills to fulfill the needs of his clients..

Copyright 2018 Absolute Investment Realty LLC

Some of Tosh’s Recent Transactions

Absolute Investment Realty | 131 Madison St NE Ste. 200 Albuquerque, NM 87108 | 505-346-6006 | [email protected]

Alfredo Barrenechea 505-401-0135

[email protected]



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http://www.go-absolute.net/




Disclaimer & Confidentiality

This is a confidential marketing package indented solely for the reader’suse in determining its desire to express further interest in the lease orpurchase of this property. Additionally, this package and the informationcontained herein is not for public distribution and is intended only forparties with a bonified interest in the lease or purchase of this propertyand should not be distributed otherwise.

The information contained in this marketing package is believed to bereliable. While the broker does not doubt the accuracy, it has notverified it and the broker and property owner make no guarantee,warranty or representation about it. It is the reader’s responsibility toindependently confirm its accuracy and completeness. All financialinformation contained herein is provided as a general reference andshould not be treated as fact, but should be independently verified bythe reader of this material.

By receipt of this marketing package, the reader agrees to keep thispackage and all material contained herein strictly confidential andagrees to destroy or return this package to Absolute Investment Realtyupon the readers determination it has no interest in leasing orpurchasing the property. Additionally, the information contained hereinis not be utilized to the detriment of the property owner, AbsoluteInvestment Realty or its associated brokers, any tenant(s) of theproperty, or any other party affiliated with the property.

The reader will not contact or approach the tenant(s) or operator(s) ofthe property, if any, without the express written permission of theproperty owner.

The property owner has absolutely no obligation to sell or lease theproperty to any person or entity regardless of proposed pricing orterms. Additionally, the property owner reserves the right, in it sole andabsolute discretion, to reject any or all offers or expressions of interestto purchase or lease the property..

Mobile Home Park in Picturesque Taos, NM112 Camino de la Merced & 1018 Reed Street, Taos, NM 87571Absolute Investment Realty | 131 Madison St NE Ste. 200 Albuquerque, NM 87108 | 505-346-6006 | [email protected]


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Mobile Home Park in Picturesque Taos, NM · 2019-07-23 · Property Detail Possible Additional...

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