 |
| Chaparral Mobile Village, Tempe, AZ |
 |
| Douglas Danny |
TEMPE, AZ, Feb. 23, 2015 – Marcus & Millichap (NYSE:
MMI), a leading commercial real estate investment services firm with offices
throughout the United States and Canada, announced the sale of Chaparral
Mobile Village, a fully improved, 359-site, all-age manufactured home
community in Tempe, Ariz.
The investment real estate asset sold for $23,850,000, which
equates to $66,435 per space at a 6.25 percent cap with a 43.75 percent expense
load or $3,232 in expenses per site.
Douglas Danny, first vice president investments in
Marcus & Millichap’s San Diego office, along with Octavian Paul,
associate in the firm’s Phoenix office, represented the seller, Kort &
Scott Financial Group. The buyer is a family trust.
“The property provides the new owner with location, demand,
incubation upside and immediate cash flow in a scarce marketplace,” says Danny.
“The offering generated multiple offers and was sold to one of the premier
manufactured home community buyers in the marketplace.”
 |
| Octavian Paul |
Chaparral Mobile Village features a clubhouse, a children’s
game room, a laundry, two swimming pools, a spa, a children’s playground and
sports facilities. Built as 360 sites, one of the spaces is dedicated to open
space.
All of the spaces are accessed via an interior asphalt paved roadway
that has rolled cement and some cement sidewalks around the common area
amenities.
Electric service is provided to each individual space by individual
meters that are master-metered by the utility companies and charged to the
park. The park has all city services.
Chaparral Mobile Village was built in 1971 on 45.1 acres and
has a density of 7.69 sites per acre.
The current site breakdown is 211
single-wide spaces and 148 double-wide spaces, of which 54 are small and 95 are
large.
There are four one-story buildings and the building area contains 5,316
square feet of clubhouse/office space, a 1,227-square-foot children’s playroom,
a 1,042-square-foot laundry facility and a 1,042-square-foot maintenance shop.
The total square footage for these buildings is 8,627 square feet.
For a complete
copy of the company’s news release, please contact:
Gina Relva
Public Relations Manager
(925) 953-1716
No comments:
Post a Comment