For Sale
$3,495,000

410 Main StBrigham City, UT 84302

37 Units, 100% Occupancy, Value-Add

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a 37-unit mobile home park in Brigham City, Utah, situated on a 3.09-acre lot. Currently boasting 100% occupancy, the park comprises 34 mobile home pads, one single-family home, and two commercial/retail units. The property features 40 parking spaces and benefits from public utilities. Built in 1963, the park offers significant value-add potential through implementing water/trash pass-through billing, installing fiber internet, and increasing lot rent (currently $515/month) to market rates. The strong current NOI of $189,023 and a 5.41% cap rate project to a pro-forma NOI of $225,033 and a 6.44% cap rate, showcasing substantial upside. The asking price is $3,495,000, translating to approximately $102,794.12 per pad. Extensive capital improvements have already been completed, ensuring immediate cash flow for the new owner. The property's size and location also present potential for future redevelopment. The property's APN is 03-088-0003 & 03-088-0004. This is a rare opportunity to acquire a fully occupied, cash-flowing mobile home community with considerable growth potential.

Highlights

  • $3,495,000 asking price for a value-add, Class B mobile home park and multifamily property in Brigham City, UT.
  • 5.41% current cap rate, 6.44% pro-forma cap rate, with a $189,023 current NOI and a $225,033 pro-forma NOI.
  • 100% occupancy across 37 units (34 mobile homes, 1 single-family home, 2 commercial/retail).
  • 3.09-acre lot with 40 parking spaces, built in 1963.
  • Significant upside potential through water/trash pass-through billing, fiber internet installation, and market-rate rent increases.

Property Details for 410 Main St

Property type
Mobile home & RV parks
Class
B
Year Built
1963
Lot Size (sq. ft)
134,600 SF
Units
37

Location Insight

City
Brigham City
County
Box Elder
State
Utah
Latitude
41.51958168
Longitude
-112.01401401
410 Main St, Brigham City, Utah

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410 Main St
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