Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 6.0%
- Listing ID: 1118293
- Posted On: Aug 9, 2019
- Updated On: Nov 6, 2020
Description
BV MHP is a 36 Unit manufactured home community consisting of 34 MHP Spaces and 2 stick built rentals located 60 miles north of Salt Lake City in the incorporated city of Brigham, Utah. BV offering includes 5 park owned homes and 4 homes sold on contract. 3.09 acre site is a designated OPPORTUNITY ZONE! An affordable housing shortage exists in Brigham City. Brigham Village is presently 97.4% leased. To obtain complete Offering Memorandum reach out to James Burgess (james@theburgessco.com) for NDA necessary.
NOTE#1: NOI is computed without additional P.O.H & Homes sold on contract income
NOTE#2: Approx. 60% acquisition debt available to qualified Buyer, 10/30, at 3.75% fixed interest rate.
Location
Affordable Housing Shortage exists in Brigham City; Further this site designated an "Opportunity Zone" which is a development tool designed to drive long term capital into low income communities and provides federal tax incentives for investors to reinvest their capital gains.
Amenities
- Storage
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 36 |
| Total Occupancy: | 97.4 % |
| Average MH Lot Rent: | $380 |
| Size: | 3 acre(s) |
Financial Information (Actual)
| Gross Income: | $171,338 |
| Operating Expense: | $51,401 |
| Net Operating Income: | $119,937 |
| Expense Ratio: | 30.0 % |
| Debt Info: | Free & Clear; NOI based on estimated FY 8/20 to 7/21 without 2021 esc. |
Utility Information
| Water: | City |
| Water Paid By: | Park |
| Sewer: | City |