Mobile Home Park Details
- Purchase Method: Cash, Seller Financing
- Cap Rate: 15.6%
- Listing ID: 1483387
- Posted On: Jul 26, 2021
- Updated On: Sep 6, 2021
Description
8 lots with 7 Units. 8th lot has well house on it. * 15.6% Cap Rate *
Breakdown:
1 Park Owned Home @ $500
3 Tenant Owned Homes @ $300
1 Tenant Owned Home @ $250 (Tenant mows field and plows snow)
2 Rent to Own @ $625 / $600 (3-1-20 and 5-1-19) both 5 year terms.
Expenses:
$25 Monthly Electric for sewer pump.
$175 Water-Pump from own well house and save this monthly.
Taxes are $465 every 6 months.
Tenants take care of their own yard, trash, and electric.
Location
Quiet and Comfortable setting just outside of Elkton, near Harrisonburg. Only reason I'm listing is because I want to get something bigger.
Interested in purchasing this mobile home park? Get pre-qualified for a loan.
Park Information
| Number of MH Lots: | 7 |
| Total Occupancy: | 100.0 % |
| Average MH Lot Rent: | $300 |
| Size: | 2 acre(s) |
Financial Information (Actual)
| Gross Income: | $34,500 |
| Operating Expense: | $3,330 |
| Net Operating Income: | $31,170 |
| Expense Ratio: | 9.7 % |
| Debt Info: | I have a loan on this to 1 local bank. |
Lot Information
| Singlewide Lots: | 8 |
| 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: | Well |
| Water Paid By: | Park |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 3 |
| Average Rent for Park-owned Homes: | $600 |
