Rents Below Market – Easy Upside & Value Add Opportunity

https://estersonmhcteam.com/property/5-park-portfolio-empire-lawson-co

The Esterson MHC Team is pleased to present the 5 Park Portfolio in Denver, CO MSA. The portfolio consists of 100 units, with a tremendous amount of upside within this value-add opportunity. The communities are all located about 30 miles from the center of Downtown Denver, 20 minutes to Loveland Ski Area, and 45 minutes from Breckenridge Ski Resort. Current occupancy is 87%. The overall market can support substantially higher lot rents based on limited affordable housing supply and the fact that this MSA is home to over 2.9M people.

The communities have 55 MH lots (including 52 TOH & 3 vacant MH lots), 13 RV lots, 18 apartments, 12 cabins & 1 stick-built house.
All parks are year-round, all-ages communities. Empire Junction and Clear Creek Cabins are all serviced by a private well and septic system (1:1 and 1:3). Empire Junction and Clear Creek Cabins are billing back for water and trash. Victorian Village is serviced by public water and sewer and is billed back to the tenants. Western Inn and Lawson are serviced by private water and public sewer, both communities bill back a flat fee for sewer and trash.

The county of Clear Creek boasts a $444,800 median home value, reflecting an impressive 9.1% 1-year change. Residents are able to take advantage of nearby Denver benefits as it is considered one of the top cities people have migrated to since 2020, placing it as one of the top five cities for inbound growth. Offering both a city and recreation hub, Denver has numerous bike, hiking and running trails, close driving distance to top skiing destinations, city parks, and golf courses.

This portfolio is being offered as a stabilized investment with achievable upside that involves responsibly raising rents until market rent is achieved. We are requesting cash or bank financed offers, but based on the quality, location, and metrics of the deal, the property should qualify for recourse loan products.