For Sale
$320,000

1447 Fatima RdSocorro, NM 87801

10-Space Mobile Home Park + 4BR Home

Overview

Added:
Dec 11, 2024
Days on market:
116
Exceptional investment opportunity in Socorro, New Mexico, featuring a 10-space mobile home park and a spacious 4-bedroom, 2-bathroom modular home situated on a 3.89-acre lot. The home, built on a permanent foundation, boasts an addition, covered patio, and a 2-car carport, complemented by a newer metal roof, gas furnace, and wood-burning stove. The property is fully fenced, offering privacy and separation between the residential dwelling and the mobile home park. The park itself comprises 10 individually metered spaces, generating a monthly income of $175 per space (90% occupancy). Owner expenses are minimal, limited to a monthly trash dumpster fee of $108. The home offers additional income potential, with an estimated rental value of $1200 per month or a potential sale value of approximately $150,000. The property includes mature fruit trees (apricot, pear, apple, and plum). The park's strong performance yields a 10.28% cap rate and a net operating income (NOI) of $32,900. Average annual property taxes are $1200. This unique property presents multiple investment strategies, allowing for flexibility and potential for significant returns. The asking price for this turnkey investment is $320,000.

Highlights

  • Socorro, NM mobile home park investment opportunity: 10-space park with individually metered utilities, generating $17,500 annual income (90% occupancy) and $32,900 NOI, resulting in a 10.28% cap rate.
  • 4-bedroom, 2-bathroom modular home on a permanent foundation, featuring an addition, covered patio, 2-car carport, newer metal roof, gas furnace, and wood-burning stove.
  • 3.89-acre lot with mature fruit trees (apricot, pear, apple, and plum), fully fenced for privacy.
  • Low owner expenses: $108 monthly trash dumpster fee and $1200 average annual property taxes.
  • Home offers additional income potential: $1200/month rental income or $150,000 sale value. Asking price: $320,000.

Property Details for 1447 Fatima Rd

Property type
Mobile home & RV parks, Residential income homes
Buildings
1

Location Insight

City
Socorro
County
Socorro
State
New Mexico
Latitude
34.08618787
Longitude
-106.89742176
1447 Fatima Rd, Socorro, New Mexico

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1447 Fatima Rd
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