Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park

Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 10.1%
  • Listing ID: 1168243
  • Posted On: Dec 18, 2019
  • Updated On: Mar 17, 2020

Description

Extremely low maintenance park being offered at a 10.1% cap rate. 38 lot park with 37 lots being rented for $175 / month and 1 lot being rented at $275 / month. 100% occupied. $81,000 gross annual revenue with $75,000 annual net income. All mobile homes are owned by the tenants. All lots have city water and city sewage billed directly to the tenants. 30 of the lots are along public roads that are maintained by the parish at no expense to the owner. The other 8 are on a very low traffic gravel road that stays in excellent condition. The only set expenses are the property taxes and liability insurance. This is an ideal investment being offered at a great cap rate! Serious inquiries only.

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Park Information

Number of MH Lots: 38
Total Occupancy: 100.0 %
Average MH Lot Rent: $177

Financial Information

Gross Income: $81
Operating Expense: $6
Expense Ratio: 7.4 %

Utility Information

Water: City
Water Paid By: Tenant - Individual Service
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 0
Average Rent for Park-owned Homes: $177

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