Metro Phoenix Manufactured Housing Community Sells for $4.9 Million

Park Brokerage Inc. announces the sale of Avondale Mobile Home Park located at 300 W Lower Buckeye Rd. in the Phoenix MSA suburb of Avondale, Arizona was completed on February 23, 2016 for the price of $4.875 million ($34,575 per space).  John Sheedy with Park Brokerage Inc. negotiated the transaction on behalf of the sellers, Palm West Park LLC.

Avondale Mobile Home Park is a family 141-space park on 15 acres with city utilities.  Common area amenities include a pool, park, playground, laundry room, and basketball court.  The park was approximately 70% occupied at time of closing.  The property was in above average condition.  30 mobile homes were included in the sale.

John Sheedy said about the property that “this is a solid 3.5 star park with some big infill upside in a major MSA.  The park also has low lot rents for the area which alongside lowering the vacancy can afford the investor a large return on their investment.”

Please contact John Sheedy at 602.821.4666 if you have any further information.