1143 Gatewood AveAlbuquerque, NM 87105

Property Details for 1143 Gatewood Ave

Year built

1960

Lot size

2.69 AC

Property size (Sq ft)

2,293 SF

Property type

Mobile home & RV parks

APN

1-012-056-454-190-4-11-11

APU

101205645419041111

Description

This Albuquerque, New Mexico mobile home park presents a compelling investment opportunity. The property, located at 1143 Gatewood Ave SW, boasts 15 units, including 12 mobile homes, one manufactured home, and a duplex with two separate rental units. The seller owns four of the mobile homes and the manufactured home. Situated on a 2.69-acre lot with approximately 0.46 acres of vacant land, there's potential to expand the park by adding 4 to 5 more homes. The park benefits from a strong historical occupancy rate with minimal vacancy, suggesting consistent cash flow. Its convenient location offers quick access to I-25 via Bridge Ave and proximity to local amenities such as restaurants, schools, and services. The property is zoned R-1 in Bernalillo County, and the asking price is $2,261,089, representing a 7.25% cap rate with a current NOI of $163,929. The well-maintained park features spacious circulation. Attractive owner financing terms are available for qualified buyers. Albuquerque's promising market and high demand for affordable housing further enhance this investment's potential.

Location Insight

City

Albuquerque

County

Bernalillo

State

New Mexico

Latitude

35.0634

Longitude

-106.677

CBSA code

10740

CBSA name

ALBUQUERQUE, NM METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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