Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Land: This is land for developing a mobile home park
- Cap Rate: 8.0%
- Listing ID: 1019538
- Posted On: Jan 2, 2019
- Updated On: Jul 1, 2019
Description
40 Mobile Homes sites Denham Springs, LA. All Mobile Homes are owned by the sellers and included with sale. Clean, moderately rural location near I-12, amenities include brand new Our Lady of the Lake Hospital and Wal-Mart, 2 miles away. The Park is well maintained by the owners---No smoking---No pets are allowed in the Park. No Mobile Homes took water during the August 2016 Flood. The sellers have been approved by the parish to build an additional 16 Mobile Homes (Phase 2) on the remaining undeveloped land. This will provide a great upside for additional cash flow, allowing new owner to build out to a total of 56 lots! *7 of the 40 mobile homes on site are not currently being offered for rent, because the owners are systematically swapping them out for newer units due to their age.
Park Information
Community Type: | All Age |
Number of MH Lots: | 40 |
Total Occupancy: | 83.0 % |
Average MH Lot Rent: | $800 |
Size: | 8 acre(s) |
Financial Information (Actual)
Gross Income: | $229,181 |
Operating Expense: | $82,867 |
Net Operating Income: | $146,314 |
Expense Ratio: | 36.2 % |
Lot Information
Singlewide Lots: | 40 |
Doublewide Lots: | 0 |
Triplewide Lots: | 0 |
Park Model Lots: | 0 |
RV Information
Number of RV Lots: | 0 |
Average RV Lot Rent: | $0 |
Utility Information
Water: | City |
Water Paid By: | Park |
Sewer: | Treatment Plant |
Park-Owned Homes
Number of Park-owned Homes: | 40 |
Average Rent for Park-owned Homes: | $615 |