Tucson Trailer Parks (for sale, real estate, 2015)

[grmi66]

This is from 2015, but an interesting short documentary that the BBC produced:https://www.bbc.com/news/av/magazine-30859889

Wondering what will happen to some of these parks with the real estate boom we are having? Along Orange Grove a trailer park was sold off and razed, to be replaced by luxury townhouses last year. The documentary pointed out that almost 15% of the population of Tucson lives in a mobile home.

[tijlover]

I live in one of the 2 mobile home co-ops in Tucson. How did that happen? Faced with rising lot rent, the occupants mobilized to buy the entire park and turn it into a co-op/corporation. Why aren't there more mobile home co-ops in Tucson?

One of the houses recently went up for sale and it was sold within a half hour. The houses here are in very high demand.

And being a Co-op our assessments are only $198 a month for a single, $214 for a double. Before long the mortgage on this property will be paid off.

[steiconi]

A friend lives in a mh coop in California; it sounds like a great deal.
I would guess there aren't more because a large percentage of the current tenants AND the owner have to agree to go coop, AND tenants have to come up with a good chunk of change for down payment on the property.

[grmi66]

Originally Posted by tijlover

I live in one of the 2 mobile home co-ops in Tucson. How did that happen? Faced with rising lot rent, the occupants mobilized to buy the entire park and turn it into a co-op/corporation. Why aren't there more mobile home co-ops in Tucson?

One of the houses recently went up for sale and it was sold within a half hour. The houses here are in very high demand.

And being a Co-op our assessments are only $198 a month for a single, $214 for a double. Before long the mortgage on this property will be paid off.

Smart idea, for a very brief period of time did some contract work for a company that marketed their services to mobile home parks. What I was told is that the industry is transitioning, used to be a very family oriented business and all the parks were typically owned and operated as a small business. Lot of the parks were started in the 1950's & 60's. Now the bulk of the original owners are either quite elderly or passed on, the remaining family members do not want the business. When a developer or a big conglomerate of park owners like Cal-Am shows up with their checkbook, it's an easy decision to make.

[tijlover]

In New York City it's estimated there's 9-10,000 Co-ops! But we're talking apartment buildings being converted!