Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 12.8%
- Listing ID: 1515427
- Posted On: Sep 15, 2021
- Updated On: Jan 13, 2022
Description
23 Pad Mobile Home Park on City water & Sewer. Electricity and gas are separately metered. 14 park owned homes (13 single wides + 1 double wide). 9 Vacant Pad sites suitable for mobile homes or RVs and can rent for $450-$500 p/m. 10 of the 14 park owned units are still under renovation and are approximately 50% complete. Of the 4 completed units 3 are rented out to long term tenants at $1,400 p/m. 1 of the 4 completed units is a fully furnished airbnb and collects approximately $2,800 p/m.
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Park Information
| Community Type: | All Age |
| Number of MH Lots: | 23 |
| Total Occupancy: | 17.0 % |
| Average MH Lot Rent: | $450 |
| Size: | 3 acre(s) |
Financial Information (Pro Forma)
| Gross Income: | $297,000 |
| Operating Expense: | $72,000 |
| Net Operating Income: | $225,000 |
| Expense Ratio: | 24.2 % |
Lot Information
| Singlewide Lots: | 22 |
| Doublewide Lots: | 1 |
RV Information
| Number of RV Lots: | 9 |
| Average RV Lot Rent: | $450 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - RUBs |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 14 |
| Average Rent for Park-owned Homes: | $1,400 |