Mobile Home Park Details
- Cap Rate: 6.5%
- Listing ID: 1188366
- Posted On: Feb 6, 2020
- Updated On: Sep 23, 2020
Description
Lake Erie MHC has a total of 159 MH lots and 4 additional units within a single family home, including an office for the park. There is a total of 159 MH spaces with 113 tenants with 68 lot rent only tenants paying an average of $405, 38 rented POHs paying an avg of $246, 5 rent to own homes, and 3 vacant POH. There is also a single-family home with 4 units, one of which is used as an office, 2 are rented, 1 is vacant and used for storage. Current occupancy is at 69.33%. The POHs are in above average condition with 20+ homes being 2014-2018 vintage. The overall average POH age is 2003.
Park Information
| Number of MH Lots: | 163 |
| Total Occupancy: | 69.3 % |
| Size: | 20 acre(s) |
Financial Information
| Gross Income: | $602,343 |
| Net Operating Income: | $307,773 |
Utility Information
| Water: | Well |
| Sewer: | Treatment Plant |