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1001 S 1st St 35 Unit Mobile Home Park $550,000 ($15,714/Unit) 7.70% Cap Rate Lamar, CO 81052
Investment Highlights
- VALUE-ADD OPPORTUNITY THROUGH LEASE-UP OF VACANT PADS
- ALL UTILITIES ARE DIRECTLY BILLED TO TENANTS
- MAJORITY TENANT-OWNED HOMES REDUCING OPERATIONAL INTENSITY
- STABLE OCCUPANCY WITH CONSISTENT DEMAND FOR AFFORDABLE HOUSING
Executive Summary
Pinnacle Real Estate Advisors is pleased to announce they have been retained as the exclusive marketing advisor for 1001 S 1st St in Lamar, Colorado. 1001 S 1st St is a 35-pad manufactured housing community located in Lamar, Colorado, currently featuring 18 occupied homes, 2 vacant homes, and 15 vacant lots. The property offers stable in-place occupancy with meaningful upside through lease-up and operational improvements.
The community is primarily comprised of tenant-owned homes, with only one park-owned home currently operating under a rent-to-own structure that will convert to full lot rent. This structure supports a lower management burden while providing an embedded increase in future income.
All utilities, including water, sewer, gas, and electric, are directly billed to tenants by the city, creating an efficient operating structure with limited landlord expense exposure.
Overall, 1001 S 1st St represents a value-add opportunity in a supply-constrained market with durable tenant demand and multiple avenues for increasing cash flow.
The community is primarily comprised of tenant-owned homes, with only one park-owned home currently operating under a rent-to-own structure that will convert to full lot rent. This structure supports a lower management burden while providing an embedded increase in future income.
All utilities, including water, sewer, gas, and electric, are directly billed to tenants by the city, creating an efficient operating structure with limited landlord expense exposure.
Overall, 1001 S 1st St represents a value-add opportunity in a supply-constrained market with durable tenant demand and multiple avenues for increasing cash flow.
Property Facts
| Price | $550,000 | Building Class | C |
| Price Per Unit | $15,714 | Lot Size | 4.28 AC |
| Sale Type | Investment | Building Size | 186,219 SF |
| Cap Rate | 7.70% | No. Stories | 1 |
| No. Units | 35 | Year Built | 1999 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Property Subtype | Manufactured Housing/Mobile Home |
| Price | $550,000 |
| Price Per Unit | $15,714 |
| Sale Type | Investment |
| Cap Rate | 7.70% |
| No. Units | 35 |
| Property Type | Multifamily |
| Property Subtype | Manufactured Housing/Mobile Home |
| Building Class | C |
| Lot Size | 4.28 AC |
| Building Size | 186,219 SF |
| No. Stories | 1 |
| Year Built | 1999 |
| Opportunity Zone |
Yes |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 35 | - | - |
1 1
Somewhat walkable
30/100
Very drivable
80/100
Minimal public transit
10/100
Fairly bikeable
50/100
Contacts
-
Ellie Stanton -
Andrew Monette -
David Barocas -
Morgan Wheeler -
Pinnacle Real Estate Advisors
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1001 S 1st St
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