Mobile Home Park Details
- Purchase Method: Cash, Seller Financing
- Land: This is land for developing a mobile home park
- Cap Rate: 11.0%
- Listing ID: 1333236
- Posted On: Oct 1, 2020
- Updated On: Oct 1, 2020
Description
3 unit mobile home park with room to expand to a total of 6 units. Located on 1.8 acres with city water and septic. Unit 1 & 2 are 1996 14x60 3 bed/2 baths. 1 unit is 1995 70x14 3 bed/1 bath. All units are rented at 450 each for a total monthly income of 1350.00. Rents have not been increased in years. Each unit is individually metered for electric, park pays water and trash. Tenants mow their own yards.
Expenses as follows
•Water 85.00/month
•Trash 45.00/month
•Insurance 25.00/month
•Taxes 183.07/year 15.25/month
Total monthly expenses 170.25
Net operating income 1179.75
Location
1491 Mulberry Creek Road is located 10 miles from Walmart super center. 9.1 miles to Tyson plant which is a major area employer.
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Park Information
| Community Type: | All Age |
| Number of MH Lots: | 3 |
| Total Occupancy: | 100.0 % |
| Year Built: | 19951996 |
| Average MH Lot Rent: | $450 |
| Size: | 2 acre(s) |
Financial Information (Actual)
| Gross Income: | $1,350 |
| Operating Expense: | $170 |
| Net Operating Income: | $1,179 |
| Expense Ratio: | 12.6 % |
Lot Information
| Singlewide Lots: | 3 |
| Doublewide Lots: | 0 |
| Triplewide Lots: | 0 |
| Park Model Lots: | 0 |
RV Information
| Number of RV Lots: | 0 |
| Average RV Lot Rent: | $0 |
Utility Information
| Water: | City |
| Water Paid By: | Park |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 3 |
| Average Rent for Park-owned Homes: | $450 |
