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Mobile Home Park Details

  • Purchase Method: Seller Financing, New Loan
  • Cap Rate: 9.5%
  • Listing ID: 13234
  • Posted On: Jun 2, 2010
  • Updated On: Mar 14, 2013

Description

"Principles Only" - Email or call for complete color package - Soap Lake Trailer Park - was built in the 1940's and is located on 18 city lots. Lots 1 - 12 measure 25' x 120' each and lots 13 - 18 measure 50 x 120 each for a total of approximately 1.65 acres. The park is serviced by city water and city sewer, a master water meter services the manufactured homes and the two houses are sub-metered. There is a 24' x 40' workshop that could be used as storage to rent to the tenants. The rents were raised to $245.00 per month for space rent as of the 1st of January 2010. The small house has been paint and new windows & doors installed and the inside was completely remodeled and new floor covering were completed Oct of 2009. The larger home was painted and given new floor coverings March of 2009 & the windows and door where replaced several years ago.

The park’s setting is very desirable with a City Park directly to the north, which the tenants may use as a common area for picnics and family gathering. To the west the land is open with a view of the rolling plains. To the east is land that could be bought for expansion of the existing park. To the south is the Town of Soap Lake almost every business is within walking distance. *The rents will increase by $20 dollars Feb 1st, 2011.*

Interested in purchasing this mobile home park? Get pre-qualified for a loan.

Park Information

Number of MH Lots: 26
Year Built: 1940
Average MH Lot Rent: $245
Size: 2 acre(s)

Financial Information (Actual)

Gross Income: $75
Operating Expense: $22
Net Operating Income: $52
Expense Ratio: 29.3 %

RV Information

Number of RV Lots: 2
Average RV Lot Rent: $240

Utility Information

Water: City
Water Paid By: Park
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 2
Average Rent for Park-owned Homes: $500