Mobile Home Park Details
- Purchase Method: Cash
- Cap Rate: 12.0%
- Listing ID: 1228781
- Posted On: Mar 13, 2020
- Updated On: Mar 31, 2022
Description
1 vacancy as of 02.09.2022
Great income property!! This property zoned R1T and land use code 350 (manufactured home park).
The park is 17 lots, which are set up to accept either mobile homes or RV's. City water, city sewer, trash pick up. Park does not own any homes. Several home are owned by park manager, who subleases the spaces, and in turn pays the park owner lot rent for those spaces. All tenants are long-term. Electric is paid by tenants. Park manager in place to collect rent, manage tenants, etc.
There is VERY high demand. 1 space is currently rent-free for a veteran, which the park manager considers part of his compensation.
I have installed backflow preventers, sewer cleanouts, new hydrants, replaced all lateral sewer lines, and upgraded electrical connections so the park is fully operational and ready for it's new owner! Water lines are new within 4 years, all schedule 80 PVC pipe.
My wife and I just had a baby, and we’re living out in Virginia near family. We have a great park manager in place, but we’re looking to consolidate our investments closer to home.
Do not contact manager or disturb tenants without prior permission.
Location
In downtown city of Hawthorne, NV. Located on city-maintained street.
Park Information
Community Type: | All Age |
Number of MH Lots: | 17 |
Total Occupancy: | 100.0 % |
Year Built: | 1967 |
Average MH Lot Rent: | $250 |
Size: | 2 acre(s) |
Financial Information (Pro Forma)
Gross Income: | $52,800 |
Operating Expense: | $17,000 |
Net Operating Income: | $35,800 |
Expense Ratio: | 32.2 % |
Debt Info: | None - I own the park outright |
Lot Information
Singlewide Lots: | 0 |
Doublewide Lots: | 17 |
Triplewide Lots: | 0 |
Park Model Lots: | 0 |
RV Information
Number of RV Lots: | 0 |
Average RV Lot Rent: | $0 |
Utility Information
Water: | City |
Water Paid By: | Park |
Sewer: | City |
Park-Owned Homes
Number of Park-owned Homes: | 0 |
Average Rent for Park-owned Homes: | $0 |