investment highlights
- REMOTE MANAGEMENT MODEL // Current owners operate the facilities from out of state with just one local part-time maintenance guy and no onsite employees. New tenants rent units online or through an agent at a call center and are given a code to open the electronic gate.
- UPSIDE POTENTIAL // 90 percent physical occupancy despite minimal advertising with upside in bringing existing tenants up to asking rent through revenue management. New owner could rent out a 40×40 office space at Basin which is currently unused and vacant.
- FEATURES // Both facilities are secured by an electronic gate, perimeter fence, LED lights, and remote access security cameras. Each location has an onsite leasing office which are not used.
- ATTRACTIVE LAYOUT & DESIGN // Ground level single-story access across the entirety of the two locations featuring 100 percent non-climate drive-up units. Buildings are concrete block or metal construction with attached leasing office and paved drive aisles.
- GOOD LOCATIONS // Two separate locations in Farmington, New Mexico. Basin is centrally located in the city of Farmington while Harper Hill is five miles west near a residential subdivision growth area.