Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 8.0%
- Listing ID: 1278005
- Posted On: Jun 25, 2020
- Updated On: Jun 29, 2020
Description
Paris MHP is located in Paris, Texas and consists of 75 pad sites across 9 acres. At this time 52 pad sites are occupied at $350/month and city sewer/electric are direct billed and paid by tenants. There are a couple acres available to expand. The park pays the water and trash (combined) bill. 4 park-owned homes are in the process of being renovated, after which point they will be seller-financed out to new tenants. Units rent out very fast, the vacant pad sites just need to be backfilled.
The park is managed remotely and all tenants pay online.
The park is located in a perfect location at the intersection of two major highways, and includes two 2-sided billboarded with the purchase, that are leased through the next ~5 years.
Interested in purchasing this mobile home park? Get pre-qualified for a loan.
Park Information
Community Type: | All Age |
Number of MH Lots: | 75 |
Total Occupancy: | 67.0 % |
Average MH Lot Rent: | $350 |
Size: | 9 acre(s) |
Financial Information (Actual)
Net Operating Income: | $192,000 |
Utility Information
Water: | City |
Water Paid By: | Tenant - Individual Service |
Sewer: | City |