Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 13.0%
- Listing ID: 101632
- Posted On: Jul 15, 2011
- Updated On: Feb 5, 2015
Description
Park 1 has 43 spaces/ 2 park owned homes/ 5 vacancies on 18.1 acres. Park 2 has 20 spaces, all single section homes and 2 vacancies on 12 acres. There is a small commercial building at the park entrance thta could add to the income. Both communities are on private well and septic, have paved roads, signage, and banked mailboxes. Lot rents have incresed $20 per space from current income figures. A great opportunity for the investor with strong management skills!
Location
Both Communities in this 2 park package are in the NY Capitol district. The location on county route 107 is well traveled with a mix of middle class housing and small business. The communities are about 3 miles apart, with the closest to RT 30 only about 1/2 mile from the towns hub of business, big box retailers, and employers.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 63 |
| Total Occupancy: | 89.0 % |
| Year Built: | 1980 |
| Average MH Lot Rent: | $360 |
Financial Information (Actual)
| Gross Income: | $196 |
| Operating Expense: | $72 |
| Net Operating Income: | $123 |
| Expense Ratio: | 36.7 % |
| Debt Info: | Debt service not in expense calc |
Lot Information
| Singlewide Lots: | 52 |
| Doublewide Lots: | 11 |
| Triplewide Lots: | 0 |
| Park Model Lots: | 0 |
RV Information
| Number of RV Lots: | 0 |
| Average RV Lot Rent: | $0 |
Utility Information
| Water: | Well |
| Water Paid By: | Park |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 2 |
| Average Rent for Park-owned Homes: | $450 |
