Bruce Kipling
Coldwell Banker Premier Realty
6272 East Boulevard
Vancouver, B.C. V6M 3V7

T: 1.778.387.6001
O: 1.604.266.1364
E: bruce@brucekipling.com

My Listings

76415 E. INDIAN HILLS DR. in WINKELMAN: Home for sale

76415 E. INDIAN HILLS DR. WINKELMAN :

Main Photo: 76415 E. INDIAN HILLS DR. in WINKELMAN: Home for sale
$800,000
Prop. Type:
Business with Property
Status:
Active

Purchase and Sales Strategy - Indian Hills Estates

76415 E Indian Hills Dr. Winkelman, Arizona 85192

Description

Indian Hills Estates is a fully improved, 270 space, 60 acre mobile home park for sale at $800,000 ($2,963/space). Approximately 170 of the 270 spaces already contain slabs. The property is piped for gas with individual meters, plumbed with fresh well-water to each space, and has a County approved septic system. There is a manager’s/leasing office on site.

The Plan

The current state of the park is “under-managed”. 53 of the 270 spaces are leased and the grounds need some light capital improvements estimated between $200,000 to $300,000. Improvements would include; removing some abandoned homes, cleaning up the grounds, planting trees and shrubbery and creating and implementing a marketing structure. Marketing should include direct B-to-B campaigns to the local mines and other businesses, building a website, and erecting leasing/grand re-opening signage on the property that can be seen from the highway.

The Area

A nearby mine; Resolution Copper Mine, is in the process of expanding and will become of of the largest copper mining operations in the world. Check out this video to see the economic benefits soon to impact the area. View the Video


The Bureau of Indian Affairs is building a casino within 5 miles of the park with plans to expand the casino in future years. Read the Article


Exit Strategies

The property has multiple exit strategies. Comparable sales from 2011 to the present place the value of this property, post repositioning, at $5,022,000 in today’s market (not factoring plausible appreciation due to the mine and the casino). One exit strategy is to quickly improve the property and sell to an operator for around $3,000,000 who would then complete the leasing efforts. The second strategy would be to undergo the full repositioning efforts and hold as an income producing property or sell at full market value upon the completion of those efforts.

Price:
$800,000
Property Type:
Business with Property
Status:
Active
LISTING DISCLAIMER: Bruce Kipling of Coldwell Banker Premier Realty is licensed in the Province of British Columbia. This featured listing is courtesy of Gerchick Real Estate of Phoenix Arizona, and is authorized through a reciprocal referral partnership agreement with a licensed realtor in the State of Arizona.
Listing information last updated on February 22, 2014 at 06:30 PM (UTC)
BRUCE KIPLING