Mobile Home Park Details
- Purchase Method: Cash
- Cap Rate: 9.5%
- Listing ID: 1320957
- Posted On: Sep 10, 2020
- Updated On: Dec 8, 2020
Description
8 unit park with 6 park owned homes and 2 lot rentals. Gross income over $40,000 annually. Full occupancy for over 10 years. City water, sewer and garbage collection. No additional room to add more homes. Very low maintenance expense.
Location
Excellent location to stores, gas stations, restaurants, bank and post office.
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Park Information
| Community Type: | All Age |
| Number of MH Lots: | 8 |
| Total Occupancy: | 100.0 % |
| Year Built: | 1995 |
| Average MH Lot Rent: | $450 |
| Size: | 1 acre(s) |
Financial Information (Actual)
| Gross Income: | $41,000 |
| Operating Expense: | $3,000 |
| Net Operating Income: | $38,000 |
| Expense Ratio: | 7.3 % |
| Debt Info: | None |
Lot Information
| Singlewide Lots: | 8 |
| Doublewide Lots: | 0 |
| Triplewide Lots: | 0 |
| Park Model Lots: | 8 |
RV Information
| Number of RV Lots: | 2 |
| Average RV Lot Rent: | $225 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Submetered |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 6 |
| Average Rent for Park-owned Homes: | $500 |
