Mobile Home Park Details
- Purchase Method: Cash, Seller Financing, New Loan
- Cap Rate: 9.0%
- Listing ID: 1402640
- Posted On: Mar 6, 2021
- Updated On: May 10, 2021
Description
Percy MHC is a quiet community with many long term residents. 30 homes are TOH with 10 POH. Some homes are under RTO or will be purchased outright by the resident. By 2022, all homes will be TOH.
Overall the community is 95 percent occupied with current inventory. Demand is strong. Bring in a few more homes to really Cash Flow. Great Investment for first time buyer or Expand your Portfolio.
Park Highlights:
52 spaces
Lot rent currently $245
Low Taxes
City Water and Sewer
Low Water Fees
Low Expenses
Residents pay at Local Bank
Owner Financing
Additional Lots
Text Matt for additional details
586-232-5163
Interested in purchasing this mobile home park? Get pre-qualified for a loan.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 52 |
| Total Occupancy: | 80.0 % |
| Year Built: | 1960 |
| Average MH Lot Rent: | $285 |
Financial Information (Actual)
| Gross Income: | $130,000 |
| Operating Expense: | $35,000 |
| Net Operating Income: | $95,000 |
| Expense Ratio: | 26.9 % |
Lot Information
| Singlewide Lots: | 52 |
Utility Information
| Water: | City |
| Water Paid By: | Park |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 10 |
| Average Rent for Park-owned Homes: | $425 |
