Multiple Exit Strategies
MOBILE HOME
EASY FLIP OR RENTAL
PUEBLO WEST
240 E Countryside Drive
Pueblo West, CO 81007
PRICE $70,000
- V A C A N T
- 2 Beds /1 Bath
- 798 Square Feet
- Built in 1981
- 7,143 SF lot (65’x110’)
- Zoned R-8
- Easy flip
- New front door
- Flooring is removed.
- Subfloor is replaced.
The MH is not purged to the property so you have a couple of options.
Leave the trailer and flip it.
Sell the trailer and replace it with a new mobile or manufactured home.
Our contractor’s Rehab Estimate on existing MH to surpass existing comps is $20,000.
Average rent in the area is $1,400 (rentometer.com) With the purchase price and rehab costs you get a 5-year return on investment without raising rent in those 5 years.
We have discussed purging the trailer with the city. The owner needs to bring the Deed to land, the Title to trailer, and ID to Treasurer’s Office.
For a $10 processing fee, the city will purge it same day.
Comp Information
The property on S Walton Dr. was not a flip. It is an outdated rentable property. It was not remodeled at all. It was sold recently. The ARV of listed property is higher for this reason. The property on S Joe Martinez is a closer comp, but it wasn’t completely remodeled. It has very low end flooring and bath remodel. The kitchen is still outdated and it only has one bathroom.
With a complete remodel and another bath the listed property should easily get $150,000 On Market.
Another option is to sell and remove the existing trailer. We would help and know someone who would remove the trailer for free.
Then you could bring in a new trailer or modular.
Recent new MH/Modular comp in the area: 1038 S Saddlerock Dr, Pueblo West, CO 81007 SOLD 11/22 for $280,000
Comps
-745 S Walton Dr, Pueblo West, CO 81007
SOLD 9/22 for $132,000
This was not a flip. It is an outdated rentable property- not remodeled
-739 S Joe Martinez Lane Unit L, Pueblo West, CO 81007
SOLD 11/22 for $140,000
Bathroom, flooring, and some paint were done on this. The kitchen was still outdated. It only has 1 bath.
-MODULAR – 1038 S Saddlerock Dr, Pueblo West, CO 81007
SOLD 11/22 for $280,000
New 3 bed/2 bath – 1,560 sq ft
This would give you a $215,000+ spread. Sell the existing MH.
Earnest Money $2,000