TUCSON, ARIZONA – Diamond Estate Mobile Home Park, a community of 25 park owned homes on 1.14 acres, was purchased for $800,000 ($32,000 per unit) by Judahs Ranch, LLC (Richard Spreiser, manager).
The seller was Diamondhead Estates, LLC of Tucson (Robert Balsinger, manager).
The value-add investment was purchased for a rehab project by investor. Spreiser’s business model is to buy these value-add mobile home parks for rehab and just finished another mobile home property at 4265 E Benson Hwy in Tucson. The Palms Mobile Home Park, with 8 apartment units and 34 mobile home spaces on 2.04 acres, was purchased in August 2019 for $850,000 and has since been fully rehabbed and is fully rented now.
The transactions were Principal to Principal, although Spreiser is a licensed real estate broker with MFI Commercial Real Estate in Tucson. He and son, Elan Spreiser, have been working this successful investment business model for mobile home parks for several years.
For more information, Spreiser can be reached at 520.850.1640.
To learn more, see RED Comp #8577 and #7123.