750 S 1750 W Vernal, UT 84078

Property stabilized and ready for new owner! Monthly gross rents of $3,730 on this amazing property. This property operates at a TRUE 9.4% Cap Rate, (assuming 25% op-ex, and 5% vacancy) this is a great, mini trailer park in Vernal. Where else will you find a "1% deal" in this market? This is a great option for a first time investor, or for a cash investor or 1031 roll up! 3 trailers are owned by the park/landlord, and 2 are tenant-owned and only pay lot rent. Lot rent is $475. Two of the owned trailers are renting at $750 and $840/month and the 3rd one is at $950/month. All tenants pay $60 additional for utility reimbursement for water/sewer/garbage. All Trailers are single wide. Park owned trailers are aged 1983, 1984 and 1977. - offer subject to inspection - inquire with agent for any questions. Property sits on 2 different parcels and must be bought cash or conventional loan or Portfolio loan. Parcels can be sold or bought individually, as well as subdivided further into 4 total parcels per city requirements. Grand Valley Bank in Vernal will provide financing at 65% LTV on a 3 year ARM and 20 year amortization. Seller would consider small carryback/subordination. Buyer to verify all info. Square footage figures are provided as a courtesy estimate only and were obtained from a mixture of sources. Buyer is advised to obtain an independent measurement of square footage. Owner/agent. Cross posted as multi unit - MLS #1963683