Mobile Home Park Details

  • Purchase Method: Cash
  • Cap Rate: 15.0%
  • 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