Mobile Home Park Details
- Cap Rate: 14.0%
- Listing ID: 1273202
- Posted On: Jun 17, 2020
- Updated On: Feb 27, 2021
Description
*Strong rent collections
*15 land leases
*1 rented park owned home
*1 vacant park owned home
*4 vacant mobile home lots with entitlements & all hook ups
*New water treatment system with 3 wells
*Main road paved on property, with 2 side roads that are gravel
*Some newer homes & double wides in unit mix
*On-site resident receives rental credit to mow lawn
*On-site maintenance resident received rental credit to perform maintenance duties
Location
Fingerlakes market-close to Corning, Ithaca, Elmira and PA border.
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Park Information
| Community Type: | All Age |
| Number of MH Lots: | 21 |
| Total Occupancy: | 77.0 % |
| Year Built: | 1970 |
| Average MH Lot Rent: | $370 |
| Size: | 7 acre(s) |
Financial Information (Actual)
| Gross Income: | $72,000 |
| Operating Expense: | $30,744 |
| Net Operating Income: | $41,256 |
| Expense Ratio: | 42.7 % |
Lot Information
| Singlewide Lots: | 13 |
| Doublewide Lots: | 4 |
Utility Information
| Water: | Well |
| Water Paid By: | Park |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 2 |
| Average Rent for Park-owned Homes: | $450 |
