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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

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