Location Summary

• Part of Montezuma County, Cortez, Colorado is situated in the South Western Corner of Colorado, between 4 Corners, and College/Ski town Durango Co, with a sub-one-hour drive to either. Both Cortez and Colorado Mobile Estates are within Cortez City Limits, conveniently located to shopping, hospitals, Walmart, and more. Cortez is a local commercial center, competing with Durango in the east, and Farmington, New Mexico in the south, and draws trade from southeastern Utah, the extreme northeastern corner of Arizona, the Shiprock area of Northwestern New Mexico, and San Miquel, Dolores, Montezuma, and parts of LaPlata County in Colorado. Its economy is based very heavily on tourism, both to nearby Mesa Verde National Park as well as to San Juan National Forest, Bureau of Land Management (BLM) lands in the area (including Canyons of the Ancients National Monument, as well as the Ute Mountain Ute Tribe and Navajo Indian Reservations) Cortez Mobile Estates (1410 N Mildred Rd., Cortez, CO 81321) Is located right of Route 491, within easy walking from Main Street/Down Town, as well as local bars, restaurants, shops, and more. Colorado Mobile Estates (621 N. Elm St., Cortez, CO 81321) is located 3 minutes drive to the North East, situated directly across the street from the Southwest Memorial Hospital, the Vista Grande Inn, the Montezuma Sheriff's Department, as well as the newly constructed Corporate Headquarters for outdoor clothing and equipment company Osprey. Both Properties are within 20 minutes drive of Ute Mountain Casino Hotel & Resort!
• This is the unique opportunity to purchase a 2 Property Package in Cortez Colorado with great upside! Cortez Mobile Estates & Colorado Mobile Estates are located less than 1.5 miles away from each other, and each within walking distance to great amenities! Cortez Mobile Estates consists of 37 total units/spaces, consisting of 35 Mobile Home Spaces, a 1 Bedroom House, as well as an additional 3 Bedroom House, while Colorado Mobile Estates consists of 16 Mobile Home Spaces.Between Both parks there are 42 total Park Owned Homes, ranging from 1960's to 1990's. Currently both Electric and Gas are direct billed to the tenant, with W/S/T included in rents, a new owner would have the opportunity to implement a Bill-Back Program through either sub-metering, or RUBS significantly increasing NOI. Lot rents are currently below market, with the opportunity to increase to market with a Delta of $60+ per month. Recent CapEx: New Back Flow Units - Both Parks @ $2500 ea. (3x to Cortez, 1x to Colorado), 70 New Windows, 5 New Furnaces, 5 New Water Heaters, Cortez 3 Bedroom House - New Windows, Water Heater, & Furnace **Note: There are currently 5 vacant spaces at Cortez Mobile Estates - Due to recent Montezuma County setback laws, new homes can not be brought in to fill these spaces, and should any additional homes be moved off of their lots, they too will not be able to be replaced. To the best of the seller's knowledge, this only pertains to Cortez Mobile Estates, and NOT Colorado Mobile Estates. The seller is aware of other property owners who have fought this, and overturned the ruling.