Description
Property stabilized and ready for new owner! Monthly gross rents of $3,730 on this amazing property. This property operates at a TRUE 9.4% Cap Rate, (assuming 25% op-ex, and 5% vacancy) this is a great, mini trailer park in Vernal. Where else will you find a "1% deal" in this market? This is a great option for a first time investor, or for a cash investor or 1031 roll up! 3 trailers are owned by the park/landlord, and 2 are tenant-owned and only pay lot rent. Lot rent is $475. Two of the owned trailers are renting at $750 and $840/month and the 3rd one is at $950/month. All tenants pay $60 additional for utility reimbursement for water/sewer/garbage. All Trailers are single wide. Park owned trailers are aged 1983, 1984 and 1977. - offer subject to inspection - inquire with agent for any questions. Property sits on 2 different parcels and must be bought cash or conventional loan or Portfolio loan. Parcels can be sold or bought individually, as well as subdivided further into 4 total parcels per city requirements. Grand Valley Bank in Vernal will provide financing at 65% LTV on a 3 year ARM and 20 year amortization. Seller would consider small carryback/subordination. Buyer to verify all info. Square footage figures are provided as a courtesy estimate only and were obtained from a mixture of sources. Buyer is advised to obtain an independent measurement of square footage. Owner/agent. Cross posted as multi unit - MLS #1963683
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0BEDS
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0.72ACRES
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0BATHS
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01/2 BATHS
School Ratings & Info
Description
Property stabilized and ready for new owner! Monthly gross rents of $3,730 on this amazing property. This property operates at a TRUE 9.4% Cap Rate, (assuming 25% op-ex, and 5% vacancy) this is a great, mini trailer park in Vernal. Where else will you find a "1% deal" in this market? This is a great option for a first time investor, or for a cash investor or 1031 roll up! 3 trailers are owned by the park/landlord, and 2 are tenant-owned and only pay lot rent. Lot rent is $475. Two of the owned trailers are renting at $750 and $840/month and the 3rd one is at $950/month. All tenants pay $60 additional for utility reimbursement for water/sewer/garbage. All Trailers are single wide. Park owned trailers are aged 1983, 1984 and 1977. - offer subject to inspection - inquire with agent for any questions. Property sits on 2 different parcels and must be bought cash or conventional loan or Portfolio loan. Parcels can be sold or bought individually, as well as subdivided further into 4 total parcels per city requirements. Grand Valley Bank in Vernal will provide financing at 65% LTV on a 3 year ARM and 20 year amortization. Seller would consider small carryback/subordination. Buyer to verify all info. Square footage figures are provided as a courtesy estimate only and were obtained from a mixture of sources. Buyer is advised to obtain an independent measurement of square footage. Owner/agent. Cross posted as multi unit - MLS #1963683
Based on information from the Wasatch Front Regional Multiple Listing Service, Inc. as of 2023-11-30T21:40:19.63. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or the MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed accurate. Buyer to verify all information.