Pictures of Mobile Home Park property located at 315 Vine St, Fernley, NV 89408 for sales - image #1

Pictures of Mobile Home Park property located at 315 Vine St, Fernley, NV 89408 for sales - image #2

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Opportunity Zone

Freeway Mobile Home Park

Fully leased 12 unit Fernley Mobile Home Park near Freeway - Mini Storage Development Opportunity

Listing Contacts

Lisamarie Wand
PRO
License: CA DRE01935110, NV B.0145463.CORP
Phone Number: Sign Up or Log In to see phone number
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Asking Price: $1,150,000

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Address

315 Vine St, Fernley, NV 89408

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Date Added

Apr 26, 2024

Days on Market

329 days

Time Since Last Update

29 days

Details

Property TypeMobile Home Park

Subtypedevelopment opportunity

Investment TypeValue Add

Investment Sub TypeRedevelopment

ClassC

Cap Rate7.04%

Pro-Forma Cap Rate8.04%

Occupancy100%

NOI$81,000

Pro-Forma NOI$92,480

Units12

Pads12

Buildings12

Stories1

ZoningRR1

Lot Size (acres)3.74

Parking (per unit)20

Broker Co-OpYes

APN021-082-07

Price/Pad$95,833.33

Marketing Description

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 or 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. Tanks were recently pumped and inspected - all in good working order,

No Seller Financing Available

Buyer to check with city for requirements for additional development.

Investment Highlights

Investment Potential:

With its desirable location and established presence in the community, the Freeway Mobile Home Park presents a value-add investment opportunity. Whether you're looking to expand your real estate portfolio or generate passive income, this property offers the potential for long-term growth and profitability.

Easy Access to transportation routes, including I-80
12 mobile home spaces, providing ample opportunity for rental income and expansion possibilities.
1.5 acres of additional land available for development
2 Story Barn on property - could be rented for additional income stream