DUNCAN, Ariz. – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Valley View MH & RV Park, a 34-acre located in Duncan, AZ, according to Ryan Sarbinoff, regional manager of the firm’s Phoenix office. The asset sold for $1,225,000 ($7,850 per space)
“The buyer plans to incubate the vacant homes, infill new homes into the community, and perform major capital expenditures to the roads and infrastructure of the property,” said Michael Escobedo, an investment specialist in Marcus & Millichap’s Phoenix office. “This allowed the seller to shift their capital into another opportunity.”
Escobedo represented the seller, a limited liability company, in the transaction. The buyer, a limited liability company, was also procured by Escobedo. Valley View MH & RV Park is located at 441 Corral Road in Duncan, Arizona. Built in 1970, this asset contains 116 mobile homes spaces, 30 RV spaces and a fourplex all on 34 acres of land.