Mobile Home Park Details
- Purchase Method: Cash
- Cap Rate: 5.2%
- Listing ID: 1400769
- Posted On: Mar 2, 2021
- Updated On: Jul 13, 2021
Description
Great Location, 8 unit mobile home park that offers a paved street, well water, septic for utilities and is situation on a nice quiet residential road but less than 3 miles from points of interest like Publix, McDonalds, Starbucks, Bank of America, CVS Pharmacy, Crunch Fitness and many other great national brands. The property consists of 7 single wide homes and 1 double wide home, the septic tank was replaced in 2013 with a 30,000 gallon tank and a new water pump for the well. These units are rented around $550-$650 per month and with some cosmetic renovation rents can easily be increased. When fully occupied this park has gross monthly income potential of $8,900.
Location
Situation on a nice quiet residential road but less than 3 miles from points of interest like Publix, McDonalds, Starbucks, Bank of America, CVS Pharmacy, Crunch Fitness and many other great national brands
Park Information
Community Type: | All Age |
Financial Information (Actual)
Gross Income: | $47,500 |
Operating Expense: | $24,810 |
Net Operating Income: | $25,805 |
Expense Ratio: | 52.2 % |
Lot Information
Singlewide Lots: | 7 |
Doublewide Lots: | 1 |
Utility Information
Water: | Well |
Water Paid By: | Park |
Sewer: | Septic |
Park-Owned Homes
Number of Park-owned Homes: | 8 |
Average Rent for Park-owned Homes: | $575 |