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La Grange, Texas Portfolio
La Grange, Texas

Sold 2015

Price: Confidential
Total Spaces: 142
Spaces Per Acre: 4.8
Year Built: 1981
CAP Rate: 7.5%

Overview:

Two property portfolio, located in LaGrange, Texas.

Investment Highlights:

  • Two Community Portfolio Located In La Grange, Texas
  • 98% Occupied
  • All Direct Billed Utilities
  • La Grange is Located Halfway Between Austin and Houston, Texas
  • No Park Owned Homes
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Highland Mobile Home Park
Bayfield, Colorado

Sold 2015

Price: $1,900,000
Total Spaces: 37
Spaces Per Acre: 4.5
Year Built: 2002
CAP Rate: 7.5

Overview:

37 space mobile home park, located in Bayfield, Colorado.

Investment Highlights:

  • Durango, Colorado MSA – Town of Bayfield
  • 37 Space Park, 100% Occupied
  • City Water and City Sewer
  • No Park Owned Homes
  • Average Rent is $450; Water is Sub-Metered and Billed Back to Tenants
  • 25 Minutes From Durango
  • Strong Demand for Affordable Housing
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Meadowcrest Mobile Home Community
Georgetown, Texas

Sold 2015

Price: Confidential
Total Spaces: 162
Spaces Per Acre: 1.7
Year Built: 2002
CAP Rate: 6.35

Overview:

162 space, all-age community located in Georgetown, Texas.

Investment Highlights:

  • Off Market Transaction, Call for Details.
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The Meadows Manufactured Home Community
La Junta, Colorado

Sold 2015

Price: $2,650,000
Total Spaces: 100
Spaces Per Acre: 5.12
Year Built: 1972
CAP Rate: 9%

Overview:

100 space all-age community located in the farming and ranching town of La Junta, Colorado.

Investment Highlights:

  • 100 Space Manufactured Home Community in La Junta, Colorado
  • All Utilities Direct Billed to Tenants
  • Major Farming and Ranching Hub of Southeastern Colorado
  • Strong Collection History
  • Sites Can Accommodate New Single-Wide Homes
  • 60 Miles East of Pueblo
  • Historically Low Expense Ratio
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Summerville Mobile Home Community
Lumberton, Texas

Sold 2015

Price: Confidential
Total Spaces: 164
Spaces Per Acre: 2.1
Year Built:
CAP Rate: 7.25

Overview:

164 space, all-age community located in Lumberton, Texas.

Investment Highlights:

  • Call for Details
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Palm Desert Manufactured Home Community
El Paso, Texas

Sold 2015

Price: Confidential
Total Spaces: 202
Spaces Per Acre: 4.6
Year Built: 1995
CAP Rate: Call for Details

Overview:

202 space manufactured home community located in El Paso, Texas.

Investment Highlights:

  • 3-Star, Subdivided El Paso Community
  • Developed in +/- 1995
  • All Utilities Direct Billed to Tenant
  • Estate Sale, Offered Free and Clear of Debt
  • Diversified Income Stream
  • Multiple Ways to Realize Upside Potential
  • Marketed Unpriced
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Tucson Portfolio
Tucson, Arizona

Sold 2015

Price: Confidential
Total Spaces: 472
Spaces Per Acre: 8.3
Year Built:
CAP Rate: Call for Details

Overview:

472 space, all-age portfolio located in Tucson, Arizona.

Investment Highlights:

  • Two Community Portfolio Located in Tucson, Arizona
  • 472 Total Sites (Diamond Grove- 153; Continental West- 319)
  • 3-Star Quality
  • Diamond Grove- Private Well (With In-Place Municipal Backup) and Municipal Sewer
  • Continental West- Municipal Water and Sewer
  • New Water Lines at Continental West
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Chancellor’s Mobile Home Park
Fountain, Colorado

Sold 2015

Price: $5,100,000
Total Spaces: 121
Spaces Per Acre: 6.5
Year Built:
CAP Rate: 7.0

Overview:

2-Star, all-age community located in the Colorado Springs MSA, Colorado.

Investment Highlights:

  • 7.0% CAP Rate for the Park (No Rental Income Used in CAP Rate Calculation)
  • 40 Homes were Negotiated and Sold with the Park (18 of which are 2014 and Newer)
  • Upside in Filling 19 Vacant Lots
  • Average Rent is $410; Water and Sewer are Sub-Metered and Billed Back
  • Colorado Springs MSA – Town of Fountain, Colorado
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Canyon Ridge Mobile Home Park
Colorado Springs, Colorado

Sold 2015

Price: Confidential
Total Spaces: 250
Spaces Per Acre: 7.9
Year Built: 1992
CAP Rate: 5.5

Overview:

Sold as an off-market portfolio with Monument Creek, for a total of 387 spaces.

Investment Highlights:

  • 96% Physical Occupancy
  • 3-Star Quality
  • All-Ages
  • City Water and City Sewer
  • Amenities Include Clubhouse, Pool, Sports Court, Playground, and RV Storage
  • Built in the Early 1990s
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Monument Creek Mobile Home Park
Colorado Springs, Colorado

Sold 2015

Price: Confidential
Total Spaces: 137
Spaces Per Acre: 7.5
Year Built: 1998
CAP Rate: 5.5

Overview:

Sold as an off-market portfolio with Canyon Ridge, for a total of 387 spaces.

Investment Highlights:

  • 99% Physical Occupancy
  • 3.5-Star Quality
  • All-Age
  • City Water and City Sewer
  • Amenities Include River Access to Monument Creek and Bike Path, Clubhouse, Playground, and Covered Picnic Area
  • Built in the Late 1990s
  • No Park Owned Homes
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North Star Mobile Home Park
Minot, North Dakota

Sold 2015

Price: $1,800,000
Total Spaces: 88
Spaces Per Acre: 9.5
Year Built: 1959
CAP Rate: 9.1

Overview:

2-Star, 99% occupied, 88 space all-age community located in Minot, North Dakota.

Investment Highlights:

  • 9.11% CAP Rate
  • 2-Star, All-Age Community
  • One Vacancy
  • No Park Owned Homes
  • City Water and City Sewer
  • Under Market Rents
  • Average Rent Ranges from $300 to $310 and Includes Water, Sewer and Trash
  • Manager Has Been On-Site for Approximately 20 Years
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Country Village
New Braunfels, Texas

Sold 2015

Price: Confidential
Total Spaces: 60
Spaces Per Acre: 5.7
Year Built: 1975
CAP Rate: 6.0

Overview:

2-Star, all-age community located in the growing community of New Braunfels, Texas.

Investment Highlights:

  • 60 Spaces
  • Historically High Occupancy
  • Close Proximity to Both San Antonio and Austin, Texas
  • Off-Market Transaction
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San Marcos Mobile Home Park
San Marcos, Texas

Sold 2015

Price: Confidential
Total Spaces: 150
Spaces Per Acre:
Year Built:
CAP Rate: N/A

Overview:

150 space community, located in San Marcos, Texas.

Investment Highlights:

  • Confidential, Off-Market Transaction
  • Call for Details
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Squaw Creek Village
Marion, Iowa

Sold 2015

Price: $21,000,000
Total Spaces: 485
Spaces Per Acre: 4.85
Year Built: 1980
CAP Rate: 6.4

Overview:

3-Star, 483 space all-age community located in Marion, Iowa (Cedar Rapids).

Investment Highlights:

  • 483 Space, All-Age Community, Located in Marion, Iowa (Cedar Rapids)
  • 3-Star Quality with Clubhouse, Office, Playground, Storage Units, and Outside Storage Area
  • City Water and City Sewer
  • Average Rent is $330, and Includes Water, Sewer, and Trash Service
  • 118 Homes Included with Sale (Average Age of Home is 2001)
  • 92% Physical Occupancy
  • Built in the Early 1990s
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Riveridge Manufactured Home Community
Grand Prairie, TX

Sold 2015

Price: Confidential
Total Spaces: 111
Spaces Per Acre: 7.35
Year Built: 1985
CAP Rate: 5.2

Overview:

Call for details.

Investment Highlights:

  • Call For Details
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Deserama 55+ Mobile Home Community
Mesa, Arizona

Sold 2015

Price: $4,500,000
Total Spaces: 134
Spaces Per Acre: 13.1
Year Built: 1957
CAP Rate: 6.8

Overview:

A value-add 55+ community located in the heart of Mesa, Arizona.

Investment Highlights:

  • Senior Community in Mesa, Arizona
  • 134 Spaces
  • City Water and City Sewer
  • Value-Add Opportunity, 9.14% CAP Pro Forma
  • 19 Vacant Park Owned Homes
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Apple Acres 55+ Community
Fruit Heights, Utah

Sold 2015

Price: Confidential
Total Spaces: 46
Spaces Per Acre: N/A
Year Built:
CAP Rate: N/A

Overview:

46 space, 55+ community located in Fruit Heights, Utah.

Investment Highlights:

  • 55+ Community
  • Average Rents $385 – $395
  • Confidential, Off-Market Transaction
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Riverside Manufactured Home Community
Georgetown, Texas

Sold 2015

Price: Confidential
Total Spaces: 111
Spaces Per Acre: 1.9
Year Built:
CAP Rate: 8.0

Overview:

2-Star, all-age community located in the growing area of Georgetown, Texas.

Investment Highlights:

  • Low Density Community with Approximately Two Homes Per Acre
  • Off-Street Parking with a 4:1 Ratio
  • Low Expense Ratio Due to Direct Billed Utilities and Private Septic
  • Over 9% CAP on Actuals
  • 95% Occupancy
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Copper Country Mobile Home Park
Globe, Arizona

Sold 2015

Price: $7,675,000
Total Spaces: 190
Spaces Per Acre: 7.1
Year Built: 1975
CAP Rate: 8.0

Overview:

3-Star, 190 space mobile home community located in Globe, Arizona. The sale included 206 mini storage units.

Investment Highlights:

  • 3-Star, 190 Space Community
  • City Utilities
  • 90% Occupied (Park)
  • Includes 206 Mini Storage Units
  • Average Rent for Single-Wide Space Ranges from $311 to $321
  • Average Rent for Double-Wide Space is $336
  • No Services Included in Space Rent
  • Stabilized, Turn Key Opportunity with Experienced Management in Place
  • Well Maintained by Current Ownership
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Paradise Oaks Manufactured Home Community
San Marcos, Texas

Sold 2015

Price: Confidential
Total Spaces: 54
Spaces Per Acre: 7.1
Year Built: 1967
CAP Rate: 9.0

Overview:

2-Star, all-age community located between the growth markets of Austin and San Antonio, Texas.

Investment Highlights:

  • Infill Location Between the Growth Markets of Austin and San Antonio
  • All City of San Marcos Utilities
  • 10 Rental Homes Included in the Sale Price
  • Park is Situated Directly Off of the I-35 Freeway
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Woodgate Manufactured Housing Village
Houston, Texas

Sold 2015

Price: Confidential
Total Spaces: 141
Spaces Per Acre: 8.3
Year Built: 1984
CAP Rate: 8.0

Overview:

141 space, all-age community located in Houston, Texas.

Investment Highlights:

  • 8% CAP Rate on Actuals
  • 100% Occupancy and Collections
  • 12 Rental Homes Included in Sale
  • Private Water and Sewer
  • 141 Spaces
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La Hacienda
Portales, New Mexico

Sold 2015

Price: $536,000
Total Spaces: 63
Spaces Per Acre: 7.9
Year Built:
CAP Rate: 10.0

Overview:

2-Star, 63 space park located in Portales, New Mexico.

Investment Highlights:

  • 63 Spaces
  • Close Proximity to Eastern New Mexico University
  • Close Proximity to Cannon Air Force Base
  • 100 Miles West of Lubbock, Texas
  • Off-Market Transaction
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Animas Mobile Home Community
Durango, Colorado

Sold 2015

Price: $7,700,000
Total Spaces: 120
Spaces Per Acre: 8.25
Year Built:
CAP Rate: 6.25

Overview:

120 space, all-age community located on the banks of the Animas River in Durango, Colorado.

Investment Highlights:

  • 120 Spaces
  • 98% Occupied
  • Average Rent of $490
  • No Park Owned Homes
  • On The Animas River
  • Located in Durango, Colorado
  • Historically High Occupancy
  • 6.25% CAP Rate
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Cherry Acres
Orchard City, Colorado

Sold 2015

Price: $950,000
Total Spaces: 62
Spaces Per Acre: 3.9
Year Built: 1976
CAP Rate: 8.6

Overview:

2-Star, 55+ community located in Orchard City, Colorado.

Investment Highlights:

  • 55+ Community
  • Historically High Occupancy
  • Country Setting
  • 30 Miles from Montrose, Colorado; 50 Miles from Grand Junction, Colorado
  • 63 Spaces
  • Off-Market Transaction

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Mueller & Hoffman Manufactured Housing
9956 W. Remington Place| Unit A-10, Suite 154
Littleton, CO 80128-6732

CO License #EC 100066203

CONTACT:
303 857 5566
Fax 303 459 5555

Jeff Mueller
Cell 303 521 7818
Jeff@muellerhoffman.com

Michael Hoffman
Cell 303 506 1293
Michael@muellerhoffman.com