Mobile Home Park Details
- Purchase Method: Cash, Seller Financing, New Loan
- Cap Rate: 7.0%
- Listing ID: 1052843
- Posted On: Apr 13, 2019
- Updated On: Apr 13, 2021
Description
The Elms Mobile Park is an all age park on Indio Blvd in Indio it sits on 2.4 acres. There are no park owned homes (1 one bed stick built house). Steady cash flow from long term residents. Most residents have been in the same space for five plus years some twenty plus years. All the utilities are passed through. Sewer lines were replaced about 14 years ago never an issue. Power comes into three 200 amp main panels, runs overhead to each space and is submetered. Most panels are 30 amp, 5 have been upgraded to 30/50's. Water is provided by the well, in the last 36 months both pumps have been replaced, the well pipe replaced, 3 brand new WellXtroll bladder tanks installed, the 5000-gallon storage tank was drained and cleaned. Some of the feed water lines have been upgraded. That's It-You provide utilities to the spaces and the residents take care of their home and pay rent. It's not pretty but it's worked for 50 years.
Park Information
Community Type: | All Age |
Number of MH Lots: | 48 |
Total Occupancy: | 100.0 % |
Year Built: | 1960 |
Average MH Lot Rent: | $302 |
Size: | 2 acre(s) |
Financial Information (Actual)
Gross Income: | $245,591 |
Operating Expense: | $117,091 |
Net Operating Income: | $128,500 |
Expense Ratio: | 47.7 % |
Lot Information
Singlewide Lots: | 18 |
RV Information
Number of RV Lots: | 30 |
Average RV Lot Rent: | $300 |
Utility Information
Water: | Well |
Water Paid By: | Tenant - Individual Service |
Sewer: | City |