Mobile Home Park Details
- Purchase Method: Assumable Loan
- Cap Rate: 12.0%
- Listing ID: 13241
- Posted On: Jun 2, 2010
- Updated On: Oct 15, 2012
Description
PRICE REDUCTION! Now with a realtor.
Mobile Home Park near Morgantown, West Virginia with over 7 acres of land. Park is made of lot only rents. Lot Rent is $115 per space and hasn't been raised in years. Currently 25 of 34 spaces occupied. Unsure how many of vacant lots are usable.
Purchase Price is now $255,000. Proforma net operating income is $31,000. City Water and Sewer. Big upside on the proforma numbers.
Assumable Mortgage by local bank, approximately $170,000. Good terms. Must qualify. Seller would consider a "small" second mortgage. No low offers or ones without a nice down payment will be accepted.
Would be great for an owner operator but still profitable for an out of state owner.
Contact Chris Wilbert at 304-841-3353 or chriswilbert@howardhanna.com.
Park Information
| Number of MH Lots: | 34 |
| Total Occupancy: | 73.0 % |
| Average MH Lot Rent: | $115 |
| Size: | 7 acre(s) |
Financial Information (Pro Forma)
| Net Operating Income: | $31,000 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Individual Service |
| Sewer: | City |
