Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 15.6%
- Listing ID: 1358950
- Posted On: Nov 20, 2020
- Updated On: Mar 3, 2021
Description
This high income mobile home park is located just outside the city of Fayetteville, NC. There are 45 lots and 40 mobile homes located on the park. Twenty of the units have a waterfront view. There is also a 2 bedroom 2 bath manufactured home included with a private lot and a water front view near the park. There are 35 park owned homes and 5 tenant owned homes. Septic system in place. Twenty units paid by tenants and twenty units paid by park. No owner financing. Will consider loan with private lender with strong commitment letter.
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Park Information
Number of MH Lots: | 45 |
Total Occupancy: | 95.0 % |
Year Built: | 1971 |
Average MH Lot Rent: | $425 |
Size: | 11 acre(s) |
Financial Information (Actual)
Gross Income: | $205,467 |
Operating Expense: | $60,761 |
Net Operating Income: | $144,706 |
Expense Ratio: | 29.6 % |
Utility Information
Water: | City |
Sewer: | Septic |