The information contained herein is believed to be reliable. While we do not doubt the accuracy, we havenot verified it and make no guarantee, warranty or representation about it. It is your responsibility toindependently confirm its accuracy and completeness.

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Mobile Home Park in Picturesque Taos, NM for Sale

Enchanted Mobile Home Park1 1 2 C am i n o d e l a Merced & 1 01 8 R eed Street , Taos , NM 87 5 7 1

Features:

32 Unit Park

Stable, Long Term Tenants

Low Maintenance Asset

Estimated Cash on Cash Return: 11.26%

Excellent Location

Desirable Taos, NM Market

Below Market Rents

Sale Price: $1,375,000

Cap Rate: 8.08%

NOI: $111,060

Alfredo Barrenecheaalfredo@go -absolute.net505-401-0135

# Units: 32

Land Size: +/- 3.18 Acres

Occupancy: 96.80%

Investment Description and Trade Area

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Absolute Investment Realty is pleased to present thisrare opportunity to acquire a 32 unit, fully operatingmobile home park in one of the most desirable tradeareas in the southwestern, US. Located in the heart ofTaos, NM, this cash-flowing investment opportunity islow maintenance with a long history of stable tenants.

The property is easily accessible in one of the mostdesirable areas of the town, just off Taos’ main drag,Paseo del Pueblo Sur (State Highway 68). It is alsoconveniently located near all of Taos’ primary servicesand shopping, including Walmart, which is directly acrossthe street.

The property has minimal landlord responsibility, lowmaintenance costs and no amenities. The property alsohas value as a commercial site and could be redevelopedin the future: The land value alone is justified by thepurchase price ($9.92/SF for 3.18 acres).

As a fringe benefit, new owner can enjoy a vacation whilevisiting this asset: Taos is a world famous destination fortourists, artists, and celebrities and features some of theworlds best dining and sight-seeing.

The buyer of this property has the opportunity tosignificantly increase NOI by increasing rates to marketand billing back operating expenses. With these simplechanges, pro-forma cash on cash return could be nearly14% (see pro-forma included in the following page.

Trade Area DemographicsRadius 1 Mile 3 Mile 5 Mile

Population (2016 Estimate) 3,410 13,674 18,521

Avg HH Income (2016 est) $40,241 $36,039 $39,753

Taos, NM MSAEnchanted Mobile Home Park

1 1 2 C am i n o d e l a Merced & 1 01 8 R eed Street , Taos , NM 87 5 7 1

Site Close Up

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Sun God’s Lodge

Story Teller Cinema

SITESITE

Taos Java

Investment Highlights

Low Maintenance & Overhead

Below Market Rents

Desirable Location – Taos, NM

Priced at Land Value

Stable, Long Term Tenants

Enchanted Mobile Home Park1 1 2 C am i n o d e l a Merced & 1 01 8 R eed Street , Taos , NM 87 5 7 1

Asset Details & Financial Summary

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Asset Details

Property Address:112 Camino de la Merced & 1018 Reed Street, Taos, NM 87571

Property Type: Mobile Home Park

Property Size:+/- 3.18 Acres. 112 Camino de la Merced: 1.36 Acres, 1018 Reed Street: 1.82 Acres

Unit Types: Single Wide

Zoning: C2 (112 Camino de la Merced), C1 (1018 Reed Street)

Access:Excellent access Via Camino de la Merced & Reed Street & Dea Lane with private drives.

Visiblity: Good visibility. Visible from HWY 68

Signage:None. Potential for good signage depending on zoning restrictions

Highest and Best Use: Mobile Home Park, Multi-Family or Commercial

Market Demand:

Strong investor demand for low-income housing, including mobile home parks. Historically, Taos has low vacancy rates and few options for low income renters.

Trade Area:The trade area consists of the town of Taos, NM and the surrounding rural areas of Northern New Meixco.

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Asset Financial Summary

Sale Price: $1,375,000

NOI: $111,060

Cap Rate: 8.08%

Estimated Cash on Cash Return*: 11.26%

Number of Units: 32

Occupancy: 97%

Price / Unit $42,969

Land Value ($/SF) $9.93

* Calculated using market rate financing assumptions

Enchanted Mobile Home Park1 1 2 C am i n o d e l a Merced & 1 01 8 R eed Street , Taos , NM 87 5 7 1

Income & Expenses

Alfredo Barrenecheaalfredo@go -absolute.net505-401 -0135

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This financial analysis is based on information the broker believes to accurately represent thefinancial performance of the property. However, neither the broker nor owner can guarantee thefuture financial performance of this asset and make no representations as such.

Estimated Cash on Cash Return: 11 .26%B a s e d o n m a r k e t f i n a n c i n g t e r m s & c o n d i t i o n s

Property Data Size (Acres) # Units

125 Camino de La Merced 1.36 16

Reed Street 1.82 16

3.18 32

2016 Actual & 2017 Estimated Income & Expenses

Income

Unit Units Per Unit/Mo Per Unit/Yr Total per Mo Total Per Year

Mobile Home Space 32 $365.00 $4,380.00 $11,680.00 $140,160.00

Vacancy Factor

Mobile Home Space 1 $365.00 $4,380.00 $365.00 $4,380.00

Adjusted Gross Income 31 $365.00 $4,380.00 $11,315.00 $135,780.00

Expenses Per Unit/Mo Per Unit/Yr Total Per Month Total Per Year

Real Estate Taxes $11.72 $140.63 $375.00 $4,500.00

Insurance $3.13 $37.50 $100.00 $1,200.00

Well Management $7.81 $93.75 $250.00 $3,000.00

Sewer & Refuse $26.56 $318.75 $850.00 $10,200.00

Common Area Electricity $3.75 $45.00 $120.00 $1,440.00

Property Management $11.41 $136.88 $365.00 $4,380.00

Total Expenses $64.38 $772.50 $2,060.00 $24,720.00

NOI $300.63 $3,607.50 $9,255.00 $111,060.00

Enchanted Mobile Home Park1 1 2 C am i n o d e l a Merced & 1 01 8 R eed Street , Taos , NM 87 5 7 1

Pro Forma Financials

Alfredo Barrenecheaalfredo@go -absolute.net505-401 -0135

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This financial analysis is intended only to be utilized as an example and is not intended to provideactual financial performance of the property marketed herein and neither the owner nor brokermake any representations as such.

This Pro Forma Financial Analysis represents potentialupside that might be realized by a buyer of theproperty. Rents have not been raised since 2013,which gives the buyer the opportunity to bring rentsto market rates. Additionally, the property does notpresently charge back for any operating expenses,which may provide the buyer with another potentialsource of income.

Estimated Potential Cash on Cash Return: 15%

Pro Forma Rent Roll

Income

Unit Units Per Unit/Mo Per Unit/Yr Total per Month Total Per Year

Mobile Home Space 32 $400.00 $4,800.00 $12,800.00 $153,600.00

Expense Recapture* 32 $50.00 $600.00 $1,600.00 $19,200.00

32 $450.00 $5,400.00 $14,400.00 $172,800.00

Vacancy Factor

Mobile Home Space 1 $400.00 $4,800.00 $400.00 $4,800.00

Associated Expenses 1 $50.00 $600.00 $50.00 $600.00

2 $450.00 $5,400.00 $450.00 $5,400.00

Adjusted Gross Income 31 $400.00 $4,800.00 $12,400.00 $148,800.00

Expenses Per Unit/Mo Per Unit/Yr Total Per Month Total Per Year

Real Estate Taxes $11.72 $140.63 $375.00 $4,500.00

Insurance $3.13 $37.50 $100.00 $1,200.00

Well Management $7.81 $93.75 $250.00 $3,000.00

Sewer & Refuse $26.56 $318.75 $850.00 $10,200.00

Common Area Electricity $3.75 $45.00 $120.00 $1,440.00

Management $12.50 $150.00 $400.00 $4,800.00

Total Expenses $65.47 $785.63 $2,095.00 $25,140.00

NOI $334.53 $4,014.38 $10,305.00 $123,660.00

* Recapture Well, Sewer, Refuse, Common Electricity, Management Expenses

Financing Assumptions

Purchase Price $1,375,000

Down Payment $343,750 25.00%

Loan Balance $1,031,250

Interest Rate 5.00%

Amortization period 25 Years

Payment [mo, yr] $6,029 $72,343

Cash Flow $4,276 $51,317

Cash on Cash Return 14.93%

Enchanted Mobile Home Park1 1 2 C am i n o d e l a Merced & 1 01 8 R eed Street , Taos , NM 87 5 7 1

Property Detail

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Possible Additional Space

Possible Additional Space

Any additional spaces must be confirmed & approved by thebuyer & the governing municipal authority.

Possible Additional Space

Enchanted Mobile Home Park1 1 2 C am i n o d e l a Merced & 1 01 8 R eed Street , Taos , NM 87 5 7 1

Property Photos

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Enchanted Mobile Home Park1 1 2 C am i n o d e l a Merced & 1 01 8 R eed Street , Taos , NM 87 5 7 1

Taos, New Mexico Location

SITE

SITE

New Mexico

Taos MSA

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Enchanted Mobile Home Park1 1 2 C am i n o d e l a Merced & 1 01 8 R eed Street , Taos , NM 87 5 7 1

Taos, New Mexico MSA

Taos is located along the border of the world famous Rio Grande

River gorge and the scenic mountains of the Carson National forest

in Northern New Mexico between the Colorado border and

Espanola. Taos is famous as a destination for artists, tourists, skiers,

and adventure seekers. This bustling Northern New Mexico

community is also home to movie stars and celebrities such as Julie

Roberts.

Taos thrives on its tourist destinations such as Taos Pueblo, the Rio

Grande River Gorge, and the world renown Taos Ski Valley. Taos

Pueblo is a Unesco World Heritage site, has been occupied for

nearly a millennium, and is considered to be one of the of the oldest

continuously inhabited communities in the United States.

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Households by Income

Taos is the county seat ofTaos county and the

primary destination for

goods and services for

communities north of

Espanola/Santa Fe, NM. In

addition to high-end tourist

shopping and dining, the

town has major retailers

such as Walmart, grocers

such as Smith’s and

Albertsons, and all primary

fast food restaurants such

as Wendy’s, McDonald’s and

Taco Bell.

Enchanted Mobile Home Park1 1 2 C am i n o d e l a Merced & 1 01 8 R eed Street , Taos , NM 87 5 7 1