Mobile Home Park Details
- Purchase Method: Cash
- Cap Rate: 15.0% (Actual)
- Listing ID: 1282134
- Posted On: Jul 2, 2020
- Updated On: Oct 12, 2020
Description
25 Lot mobile home park located in the city limits of Carthage, MS. Walking distance from the local junior high school, city park, and church. Includes 8 recently renovated park owned homes and one 2 bedroom conventional single family home located in the center of the park. 8 lots are currently leased to owner occupants.
- Adjoining ~22 acres of wooded undeveloped land zoned for residential use is also available for purchase.
Location
140 Hayes Street, Carthage, MS 39051
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Park Information
| Community Type: | All Age |
| Number of MH Lots: | 23 |
| Total Occupancy: | 75.0 % |
| Year Built: | 1967 |
| Average MH Lot Rent: | $600 |
| Size: | 7 acre(s) |
Financial Information (Actual)
| Gross Income: | $71,000 |
| Operating Expense: | $23,000 |
| Net Operating Income: | $48,000 |
| Expense Ratio: | 32.4 % |
| Debt Info: | 0 |
Lot Information
| Singlewide Lots: | 23 |
RV Information
| Number of RV Lots: | 0 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Individual Service |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 9 |
| Average Rent for Park-owned Homes: | $600 |