MHProNews has learned from azbigmedia that the Last Chance Mobile Home Park in Phoenix Arizona was sold April 27, 2015 for $855,000 to a local private investment firm. John Sheedy with Park Brokerage, Inc. represented the buyer and seller for this 40 homesite all-age manufactured home community in north Phoenix.
This MHC includes three vacant sites and four community owned homes in various states of disrepair, plus a swimming pool and an unused clubhouse. The property is listed as being in below average condition, but the new owner has plans for infrastructure upgrade and management changes.
Sheedy says, “The buyer is an experienced real estate investor in this market and will provide an immediate boost in management skills to get this park up to previous levels of operations. This park offers great rental upside and will be a great addition to the buyer’s portfolio.” ##
(Photo credit: azbigmedia–Last Chance Mobile Home Park)
Article submitted by Matthew J. Silver to Daily Business News-MHProNews.