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Mobile Home Park Details

  • Purchase Method: New Loan
  • Cap Rate: 9.0%
  • Listing ID: 1038693
  • Posted On: Mar 4, 2019
  • Updated On: Jul 18, 2019

Description

Easy Living Mobile Home Park is an excellent opportunity for an investor to acquire a high yield, stabilized multi-family rental community (park owned homes) that has consistently demonstrated high demand in a tight housing market as evidenced by low vacancy levels and rental rates consistent with the surrounding market. This asset becomes more lucrative when you consider the fact that this property is situated in an Opportunity Zone as part of the Tax Cuts and Jobs Act of 2017. An investor can potentially benefit from tax savings as it relates to capital gains, for more information about Opportunity Zones, it is suggested that a Tax Professional be consulted to ascertain all investment and taxation needs involved.

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Park Information

Community Type: All Age
Number of MH Lots: 86
Total Occupancy: 95.0 %
Year Built: 1953
Average MH Lot Rent: $955
Size: 7 acre(s)

Financial Information (Pro Forma)

Gross Income: $865,134
Operating Expense: $411,970
Net Operating Income: $453,164
Expense Ratio: 47.6 %
Debt Info: New

Lot Information

Doublewide Lots: 86

Utility Information

Water: City
Water Paid By: Park
Sewer: City

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