910 Water St, 1325 Market St, 908 Market St
- IMMEDIATE UPSIDE:
- Management fees well above market — normalizing to industry standard adds ~$27K to NOI at closing
- Vacant and underutilized units represent straightforward lease-up opportunity
- Bookkeeping and administrative costs well above market for a collection this size
- LONG-TERM VALUE CREATION
- Majority of TOH lots at below-market rents — organic growth as leases roll at expiration
- RV pad infrastructure supports conversion to long-term residential use — significant NOI upside
- River-access acreage across multiple parcels carries land value independent of income
- First institutional MHP offering in this market in years — limited buyer competition
Property Description
Pinnacle Real Estate Advisors presents the Meeker MHP Collection — a rare opportunity to acquire a long-held, family-owned collection of four income-producing assets totaling 75 units in Meeker, Colorado. The collection spans three manufactured housing communities and one RV park, offering diversified income across MHP lots, park-owned homes, apartments, and RV spaces. Assets of this scale and type rarely come to market in Rio Blanco County. Meeker represents a supply-constrained affordable housing submarket with historically negligible vacancy. Strong workforce housing demand, limited competing inventory, and no new manufactured housing supply have kept occupancy consistently high across the collection. The portfolio generates $193,267 in current annualized NOI at a 5.77% blended cap rate, with a clear path to $331,222 stabilized NOI (9.89% cap) through operational improvements alone — no rent increases or capital investment required.
Key Property Information
| Listing Status: | Unavailable |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $3,350,000 |
| No. of Units: | 75 |
| Lot Size: | 7.20 Acres |
| Opportunity Zone: | No |
| Price per unit: | $44,667 |
| Property Website | Click Here |
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