Mobile Home Park Details
- Purchase Method: Cash, New Loan, Assumable Loan
- Cap Rate: 7.5%
- Listing ID: 1004433
- Posted On: Nov 2, 2018
- Updated On: Feb 11, 2019
Description
This 190-space park is on 30 acres + 10 acres of contiguous undeveloped land with plans for another 75 spaces. The park currently has 104 Park-owned homes, 8 homes being park-financed, 59 tenant-owned homes, and 19 vacant spaces. The roads are all paved w/ rolled curbs and storm drains. All utilities are city owned and each tenant pays their own utility bills directly with the service providers. Average monthly revenue over the last 12 months is over $68,000.
Amenities
- Laundromat
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Park Information
Community Type: | All Age |
Number of MH Lots: | 190 |
Total Occupancy: | 90.0 % |
Average MH Lot Rent: | $225 |
Size: | 40 acre(s) |
Financial Information (Actual)
Gross Income: | $810,000 |
Operating Expense: | $440,000 |
Net Operating Income: | $370,000 |
Expense Ratio: | 54.3 % |
Lot Information
Singlewide Lots: | 188 |
Doublewide Lots: | 2 |
Park-Owned Homes
Number of Park-owned Homes: | 104 |
Average Rent for Park-owned Homes: | $550 |