Mobile Home Park Details
- Purchase Method: Seller Financing
- Cap Rate: 11.5%
- Listing ID: 13162
- Posted On: Jun 2, 2010
- Updated On: Apr 9, 2014
Description
3.5 ac. State Hwy. 155 south, 200 ft frontage. 10 lots 8 park owned homes, incl. 1 double wide,also a 24x30 metal bldg. concrete floor, overhead door, wired with 220volts. 2-8x16 storage bldgs.2 lots available and room to add more lots. City water, phone, cable, Houses have septic tanks. $63,600.00 year income, expenses approx. $6,000.00 yr. (taxes/Ins) All homes are like new condition very low maintenance and have covered porches and vinyl skirting. Very busy state hwy. shopping, Lake Palestine 2 miles south . Owner will carry note for 25 years @ 6.5% with 15% down.
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Park Information
Number of MH Lots: | 10 |
Total Occupancy: | 100.0 % |
Year Built: | 1999 |
Average MH Lot Rent: | $650 |
Size: | 4 acre(s) |
Financial Information (Actual)
Gross Income: | $63,600 |
Operating Expense: | $6,000 |
Net Operating Income: | $57,600 |
Expense Ratio: | 9.4 % |
Lot Information
Singlewide Lots: | 9 |
Doublewide Lots: | 1 |
Utility Information
Water: | City |
Water Paid By: | Tenant - Submetered |
Sewer: | Septic |