Mobile Home Park Details

  • Purchase Method: New Loan
  • Cap Rate: 10.0%
  • Listing ID: 108751
  • Posted On: Dec 7, 2011
  • Updated On: Dec 12, 2012

Description

19 acres with 108 lots and 8 RV lots also has 42 mini storage building units on the property...Office building with a 4 bed tanning salon on property .. (contact for details for income of tanning salon and mini storage units Believe it or not the park has city water and city sewer ,no ponds or wells to worry about !!! Park has 75 park owned homes with various sizes with average rents of $430.00 and lot rents for $160.00 lighted streets and on ground park manager who has lived there for 23 years and also on grounds full time maintenance man with grounds keeper also (park utility bed truck with all tools used for maintenance and all lawn equipment (zero turn mower and accessories) recent appraisal available

Location

Park is located 2miles south of Interstate 10 on hwy 26 in Jennings

Amenities

  • Storage
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Park Information

Community Type: All Age
Number of MH Lots: 116
Total Occupancy: 95.0 %
Year Built: 1983
Average MH Lot Rent: $160
Size: 19 acre(s)

Financial Information

Gross Income: $32
Operating Expense: $23
Net Operating Income: $9
Expense Ratio: 71.9 %

Lot Information

Singlewide Lots: 108

RV Information

Number of RV Lots: 8
Average RV Lot Rent: $320

Utility Information

Water: City
Water Paid By: Park
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 75
Average Rent for Park-owned Homes: $430

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