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OFF MARKET: $125k PRICE DROP...Turnkey STR…5 Pinetop Fully Furnished Cabins on 3 Acres...Opportunity to significantly INCREASE Gross revenue!
2343 S Penrod Ln, Pinetop, AZ 85935
+ 3 acres
+ Lot can be subdivided to add two additional cabins. Process has been started
+ Located in the heart of Pinetop
+ Gorgeous wooded lot & views
+ 5 cabins (one 2 story with 2 units)
+ 4 two bedroom + 1 bathroom cabins + 4 cabins are approx 680-780 sqft
+ 1 two story cabin with 2 units & 2 full baths is approx 900 sqft
+ All furnishings, decor, bedding, kitchen & bathroom items included
+ All cabins have covered porches
+ Cabins 2, 3 & 5 have spas
+ Individual electric meters
+ Common water, sewer, trash & internet
+ Zoning RU-43
+ Seasoned cleaning staff
+ On site management available
+ Direct booking website
+ Facebook page with 20,000+ followers
+ Instagram page with 2,000+ followers
+ Mailing list of 2,000+
+ Travel trailer
+ Current NOI of 90-100K+ with significant upside (Outlined below)
+ INCREASE GROSS INCOME BY UP TO 100%
+ Instant cash flow with multiple exit strategy options
+ Established Short Term rental with onsite maintenance, cleaning, and direct booking marketing in place
Sample of Rents: (Positive rent growth during vacation rental down years)
+ May 2022 thru Dec 2022 Gross Rents $133,253 Airbnb 26.3% PVC Website 73.7%
+ 2023 Gross Rents $177,466 Airbnb 43.8% PVC Website 56.2% (+33% YoY)
+ 2024 Airbnb 49.5% PVC Website 50.5%
+ 2024 Gross Rents $200k. (+10% YoY)
+ Upgrades:
-New retaining wall for Cabin 5
-Replace flooring in numerous cabins
-Added hot tub to Cabin 2
-High speed wireless internet for all cabins
-Painting and furnishings
-Regraded roads
PRICE: $1.35M
EMD: $20k
COE: 30 Days from Acceptance
PHOTOS:
3 Bedrooms | 2 Baths | 1,152 ft
