Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 12.0%
- Listing ID: 1179793
- Posted On: Jan 15, 2020
- Updated On: Jul 15, 2020
Description
This 19 lot, turnkey mobile home park is a producer! Boasting 11, 100% occupied, park owned homes and 8 additional lots that have full utilities, this park is primed to generate huge returns. The 11 park owned homes are generating $9,400 a month in gross revenue. The remaining 8 lots can be easily rented out to beef up the income without spending a dime; or they can be finished out by the new owner to almost double the revenue! It's almost like getting two parks for one! This park is super clean; all but one of the park owned homes have been remediated. Call your favorite agent today for more information.
Location
Just minutes from Interstate 10 for easy access to Pensacola and Mobile. Also only approximately 15 miles from the beach.
Interested in purchasing this mobile home park? Get pre-qualified for a loan.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 19 |
| Total Occupancy: | 58.0 % |
| Average MH Lot Rent: | $850 |
| Size: | 3 acre(s) |
Financial Information (Actual)
| Gross Income: | $112,800 |
| Operating Expense: | $10,000 |
| Net Operating Income: | $102,800 |
| Expense Ratio: | 8.9 % |
Lot Information
| Singlewide Lots: | 19 |
| Doublewide Lots: | 0 |
| Triplewide Lots: | 0 |
| Park Model Lots: | 0 |
Utility Information
| Water: | Well |
| Water Paid By: | Tenant - Individual Service |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 11 |
| Average Rent for Park-owned Homes: | $850 |
