Has anyone owned mobile home parks in Yuma, AZ or evaluated parks in this market? It has a decent population and solid retailers in town. Main concerns are the seasonality of residents and the competition from the large amount of RV parks.
Although we do not own any mobile home parks (we do not compete with our clientele) We have listed and sold the majority of the RV and mobile home parks in Yuma in the last 10 years (Around $80-100 million in transactions in Yuma alone in RV and MH properties). Yuma is a seasonal market with the many of the tenants being seniors either from Canada or Snowbirds. The population goes from just under 100k residents in the summer which doubles during the winter season. Many of them go to Yuma for the fall, winter, & spring and like the location because of its being nearby Mexico which many seniors go to for healthcare or dental services (Which are much cheaper then in the US). I’ve noticed that the market does especially well when the Canadian dollar is strong vs the USD. In 2012 rents/occupancy took a hit when the Canadian dollar fell about 30% vs the USD. If this trend was to reverse I’d expect a positive outcome for Yuma in the future. As of right now it’s been relatively stable since then. If you are interested in Yuma and would like to be added to our mailing list my email is: andrew.warner@naihorizon.com
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