1001 S 1st St
- VALUE-ADD OPPORTUNITY THROUGH LEASE-UP OF VACANT PADS
- MAJORITY TENANT-OWNED HOMES REDUCING OPERATIONAL INTENSITY
- ALL UTILITIES ARE DIRECTLY BILLED TO TENANTS
- STABLE OCCUPANCY WITH CONSISTENT DEMAND FOR AFFORDABLE HOUSING
Property Description
Pinnacle Real Estate Advisors is pleased to announce they have been retained as the exclusive marketing advisor for 1001 S 1st St in Lamar, Colorado. 1001 S 1st St is a 35-pad manufactured housing community located in Lamar, Colorado, currently featuring 18 occupied homes, 2 vacant homes, and 15 vacant lots. The property offers stable in-place occupancy with meaningful upside through lease-up and operational improvements. The community is primarily comprised of tenant-owned homes, with only one park-owned home currently operating under a rent-to-own structure that will convert to full lot rent. This structure supports a lower management burden while providing an embedded increase in future income. All utilities, including water, sewer, gas, and electric, are directly billed to tenants by the city, creating an efficient operating structure with limited landlord expense exposure. Overall, 1001 S 1st St represents a value-add opportunity in a supply-constrained market with durable tenant demand and multiple avenues for increasing cash flow.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $495,000 |
| No. of Units: | 35 |
| Lot Size: | 4.28 Acres |
| Opportunity Zone: | No |
| Price per unit: | $14,143 |
| Property Website | Click Here |
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