Mobile Home Park Details
- Purchase Method: Seller Financing, Assumable Loan
- Cap Rate: 10.0%
- Listing ID: 111478
- Posted On: Dec 14, 2011
- Updated On: Dec 27, 2012
Description
Distress Sale!!!
26 acres, with 175 spaces, 65 spaces occupied excellent Manager., with seven room office in a great location. Looking for bargin price $850,000.00 with as little as $30,000.00 down with assumable loans and unbelievalabel upside in a city of 50,000 people with good protective land for bad weather protection. The upside is two to three million, but need to bring in additional mobiles, most all utilities are in, with City gas & electric and city water. Health problems or partner.
Location
26 acers on on level none flooding land, with most all utilities and road completed.. The property located off highway 20 from Jackson MS to Meridian MS about 70 miles east. A new two year old tractor for 50% off of purchase price.. Property located in town of Meridean, excellent growth area..
Amenities
- Laundromat
- Pool
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 175 |
| Total Occupancy: | 40.0 % |
| Year Built: | 0 |
| Average MH Lot Rent: | $180 |
| Size: | 26 acre(s) |
Financial Information (Actual)
| Gross Income: | $180 |
| Operating Expense: | $70 |
| Net Operating Income: | $110 |
| Expense Ratio: | 38.9 % |
| Debt Info: | 1st Mtg $667,653.06, 2nd mtg 70,000.00 , 1st lien on mobile homes 92,400.00, total loans $830,000.00 |
Lot Information
| Doublewide Lots: | 175 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Individual Service |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 20 |
| Average Rent for Park-owned Homes: | $450 |
