Capstone Manufactured Housing is pleased to present the Las Vegas Portfolio, which consists of 203 sites across three communities. Strategically located in the fastest growing city in Nevada, the portfolio benefits from the city’s economic and population boom. Las Vegas is an attractive market because there is no state income tax and housing costs, compared to the other states on the west coast. However, with the median home price of $300,000+, there is high demand for affordable living options. This is demonstrated through the average 90% occupancy seen throughout mobile home parks in the area. Furthermore, the current market average of surrounding mobile home parks is $685, compared to the portfolio’s $469 average lot rent. Since rents are significantly below market, a new owner can focus on implementing scheduled increases to raise rents in-line with market. This strategy could immediately increase cash flow in year 1 by $115,000 if rents were increased by $50 across the portfolio.
Broker of Record: Bang Realty, Inc