This property is currently breaking even with an $8,704.09 Net Operating Income for 2014 year-end. That is why the sellers have reduced the purchase price to $14,750.00 per site, way below replacement cost, in order to generate a quick sale. The only way someone can turn this around is to pay cash, complete a renovation, then approach a lender to finance your money back out. The owners will not carry paper due to underlying financing requirements from their current lender. The note in place in non-assumable.
Located near Broadway and Meridian Road in Apache Junction. Cactus Garden is on all city services and water metered. This community was built for park model style homes and RVs. There are six contracts for sale (see attached loan summary sheet for details), ten inventory homes (in various states of repair), one home allocated for the manager, four vacant spaces and seven tenant-owned homes. Please see the attached rent roll for a site-by-site breakdown. This property is in dire need of new ownership and management.