Pinnacle Announces Sale of Two Mobile Home Parks in Canon City, CO
Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of 2431-2433 Central Avenue and 818 Ponderosa Lane in Canon City, Colorado. The mobile home park located at 2431-2433 Central Avenue included 21 spaces and mobile units, two single family homes, and a warehouse. The mobile home park located at 818 Ponderosa Lane included 9 spaces/mobile units and a single family home. 2431-2433 Central Avenue sold on July 21, 2017 for $1,075,000 or $44,791/unit. 818 Ponderosa Lane sold for $325,000 or $32,500/unit. Brent Hubbell, Advisor, and Josh Newell, Principal, represented the seller in the transaction.
“After purchasing the property out of foreclosure a few years ago, the seller decided to sell and capitalize on current market conditions. The property was very attractive to the buyer due to its cash flow and price per unit,” stated Hubbell.