Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 19.0%
- Listing ID: 1270207
- Posted On: Jun 12, 2020
- Updated On: Mar 25, 2021
Description
Looking to sell my park in Henagar, AL.
Beautiful grounds, we've got it to 62% occupied. I've been working on getting remodels on the empty homes. I've been doing full remodels and selling them to the residents.
The demand is there in the area, I could fill up the remaining 6 units but they're not in livable condition and I've worked really hard to get the bad actors out of the park and make sure it's filled with people that enjoy where they live, and take care of their home and the park. All new lot rent is 250/month and slowly raising current lot rent homes to 250 to match.
5 Rent to own homes Avg 504.90
2 Lot rent only homes Avg 142.00
3 Rented homes Avg 403.00
Amenities
- Storage
Interested in purchasing this mobile home park? Get pre-qualified for a loan.
Park Information
Community Type: | All Age |
Number of MH Lots: | 16 |
Total Occupancy: | 62.5 % |
Average MH Lot Rent: | $373 |
Size: | 10 acre(s) |
Financial Information (Actual)
Gross Income: | $48,000 |
Operating Expense: | $1,200 |
Net Operating Income: | $46,800 |
Expense Ratio: | 2.5 % |
Debt Info: | Loan with bank |
Lot Information
Singlewide Lots: | 15 |
Doublewide Lots: | 1 |
Utility Information
Water: | City |
Water Paid By: | Tenant - Submetered |
Sewer: | Septic |
Park-Owned Homes
Number of Park-owned Homes: | 3 |
Average Rent for Park-owned Homes: | $403 |