315 Vine St
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315 Vine St
12 Unit Mobile Home Park $1,630,090 CAD ($135,841 CAD/Unit) 8.09% Cap Rate Fernley, NV 89408
Investment Highlights
- Easy Access to transportation routes, including I-80
- 1.5 acres of additional land available for development
- 12 mobile home spaces, providing ample opportunity for rental income and expansion possibilities.
- 2 Story Barn on property - could be rented for additional income stream
Executive Summary
Welcome to the Freeway Mobile Home Park, where investment meets tranquility in the heart of Fernley, NV. Nestled in a highly sought-after location, this well-established property presents a unique opportunity for savvy investors. The additional 1.5 acres would be ideal for a additional development.
Property Highlights:
1. Prime Location: Situated conveniently close to the freeway, the Freeway Mobile Home Park offers easy access to transportation routes, making it an attractive choice for residents.
2. Tranquil Atmosphere: Enjoy the serene ambiance of this mobile home park, perfect for those seeking a peaceful living environment.
3. 12 Spaces: The property features a total of 12 spaces, providing ample opportunity for rental income and expansion possibilities. The property includes a 2-story barn that can be used as storage, office space and a potential apartment upstairs.
4. Ownership Conveyance: Of the 12 units, 8 are currently owned by the seller and will convey with the property, offering immediate revenue streams for the new owner.
5. Proximity to Amenities: Residents will appreciate the convenience of being close to shopping centers, dining options, and other essential amenities.
Don't Miss Out:
Seize the chance to own a piece of prime real estate in Fernley, NV. The Freeway Mobile Home Park combines convenience, tranquility, and investment potential into one compelling package. Contact us today to schedule a viewing and secure your investment future.
Each space has separately metered gas/electric. Owner pays water and trash. Property has 7 large septic tanks.
Note: Water rights attached to property are not included in the sale.
No Seller Financing Available
Buyer to check with city for requirements for additional development.
Property Highlights:
1. Prime Location: Situated conveniently close to the freeway, the Freeway Mobile Home Park offers easy access to transportation routes, making it an attractive choice for residents.
2. Tranquil Atmosphere: Enjoy the serene ambiance of this mobile home park, perfect for those seeking a peaceful living environment.
3. 12 Spaces: The property features a total of 12 spaces, providing ample opportunity for rental income and expansion possibilities. The property includes a 2-story barn that can be used as storage, office space and a potential apartment upstairs.
4. Ownership Conveyance: Of the 12 units, 8 are currently owned by the seller and will convey with the property, offering immediate revenue streams for the new owner.
5. Proximity to Amenities: Residents will appreciate the convenience of being close to shopping centers, dining options, and other essential amenities.
Don't Miss Out:
Seize the chance to own a piece of prime real estate in Fernley, NV. The Freeway Mobile Home Park combines convenience, tranquility, and investment potential into one compelling package. Contact us today to schedule a viewing and secure your investment future.
Each space has separately metered gas/electric. Owner pays water and trash. Property has 7 large septic tanks.
Note: Water rights attached to property are not included in the sale.
No Seller Financing Available
Buyer to check with city for requirements for additional development.
Data Room Click Here to Access
Financial Summary (Pro forma - 2024) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$175,029
|
$112.13
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$2,126
|
$1.36
|
| Effective Gross Income |
$172,903
|
$110.76
|
| Taxes |
$5,663
|
$3.63
|
| Operating Expenses |
$38,921
|
$24.93
|
| Total Expenses |
$44,584
|
$28.56
|
| Net Operating Income |
$128,319
|
$82.20
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $175,029 |
| Annual Per SF | $112.13 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $2,126 |
| Annual Per SF | $1.36 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $172,903 |
| Annual Per SF | $110.76 |
| Taxes (CAD) | |
|---|---|
| Annual | $5,663 |
| Annual Per SF | $3.63 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $38,921 |
| Annual Per SF | $24.93 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $44,584 |
| Annual Per SF | $28.56 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $128,319 |
| Annual Per SF | $82.20 |
Property Facts
| Price | $1,630,090 CAD | Building Class | B |
| Price Per Unit | $135,841 CAD | Lot Size | 3.74 AC |
| Sale Type | Investment | Building Size | 1,561 SF |
| Cap Rate | 8.09% | Average Occupancy | 91% |
| No. Units | 12 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1981 |
| Property Subtype | Manufactured Housing/Mobile Home | Opportunity Zone |
Yes
|
| Price | $1,630,090 CAD |
| Price Per Unit | $135,841 CAD |
| Sale Type | Investment |
| Cap Rate | 8.09% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Manufactured Housing/Mobile Home |
| Building Class | B |
| Lot Size | 3.74 AC |
| Building Size | 1,561 SF |
| Average Occupancy | 91% |
| No. Stories | 1 |
| Year Built | 1981 |
| Opportunity Zone |
Yes |
Site Amenities
- Courtyard
- Gated
- Storage Space
1 of 1
zoning
| Zoning Code | RR1 (Use code 350: Manufactured Home Park - Ten or more manufactured home units) |
| RR1 (Use code 350: Manufactured Home Park - Ten or more manufactured home units) |
-
Lisamarie Wand -
Mohr Partners, Inc.
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