Mobile Home Park
Mobile Home Park
Ariel View
Ariel View
Ariel City view
Ariel City view
North Street
North Street
Mobile Home Park
Mobile Home Park
Mobile Home Park
Mobile Home Park
Mobile Home Park
Ariel View
Ariel City view
North Street
Mobile Home Park
Mobile Home Park

Mobile Home Park Details

  • Cap Rate: 14.0%
  • Listing ID: 1035415
  • Posted On: Feb 21, 2019
  • Updated On: Nov 25, 2019

Description

This mobile home park is located just 2 blocks from downtown historic Greensboro. The park has 18 park owned homes that are fully occupied. Each home rents for $325/month for gross potential annual income of $70,200. All homes are total electric with window unit heat pumps. 10 air units are less than a year old. Almost all others have been replaced within the last 5 years. 9 homes have new roofs. Park is located on 2+ acres, with room for future expansion (pending city approval). Sewage and water are ready for 3 additional homes. Enjoy low water and sewage rates giving you more return on your investment.

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Park Information

Community Type: All Age
Number of MH Lots: 18
Total Occupancy: 100.0 %
Year Built: 2008
Average MH Lot Rent: $325
Size: 2 acre(s)

Financial Information (Actual)

Gross Income: $64,584
Operating Expense: $16,560
Net Operating Income: $48,024
Expense Ratio: 25.6 %

Lot Information

Singlewide Lots: 18

Utility Information

Water: City
Water Paid By: Park
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 18
Average Rent for Park-owned Homes: $325