Mobile Home Park Details
- Cap Rate: 10.1%
- Listing ID: 13152
- Posted On: Jun 2, 2010
- Updated On: Oct 19, 2010
Description
This investment consists of 2 manufactured housing communities operated as one investment. The parks are within 1/2 mile of each other. There are 57 homes that go with the park and income and occupancy have been on the rise over the last 6 months. May and June of 2005 collections have remained over $21,000 per month. The parks have city utilities, paved roads, storage buildings, lots of mature trees and are well located in the community.
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Park Information
Number of MH Lots: | 119 |
Total Occupancy: | 70.0 % |
Financial Information (Actual)
Gross Income: | $247,000 |
Operating Expense: | $123,393 |
Net Operating Income: | $123,607 |
Expense Ratio: | 50.0 % |
Utility Information
Water: | City |
Sewer: | City |