Mobile Home Park Details
- Purchase Method: Cash, Seller Financing, New Loan
- Listing ID: 1157491
- Posted On: Nov 19, 2019
- Updated On: Jun 30, 2020
Description
INVESTMENT HIGHLIGHTS
-SELLER FINANCING to strong borrowers
-Minimal expenses
-Tenants pay all utilities
-Substantial Upside potential with occupancy only at 43%
-Below market rent
-Priced for land value only @ $10,184 a Space!
The Park is a 3-star park which with road improvements could easily be improved.
The Park was built in two phases with the first phase built in the mid 1980’s with homes sitting on 1/8 acre lots. Each lot has its own street address and 200-amp service. The second phase was built in the 1990’s with each home sitting on 1/4 acre lots with street addresses and underground 200-amp service.
The Park consists of 49 mobile home lots on 5 acres, an office/ shop and 2 ponds. Together, this is over 16 acres.
The price will increase as units are refurbished.
An investor with a future vision of value will recognize the Park's value could potentially be over $1M by simply bringing on homes in need of rehab along with filling vacant spaces with new homes.
The property is currently priced for land value. Income is just a bonus!
Park Information
Community Type: | All Age |
Number of MH Lots: | 49 |
Total Occupancy: | 43.0 % |
Size: | 17 acre(s) |
Utility Information
Water: | City |