Mobile Home Park Details
- Purchase Method: Cash, Seller Financing
- Cap Rate: 15.0%
- Listing ID: 15378
- Posted On: Aug 17, 2010
- Updated On: Jul 24, 2013
Description
Mobile Home Park for sale with 40 individually metered and divided spaces, keep as a park or sell off the individual lots. Currently there are 18 lots occupied, rental increase notice has just been provided to residents bringing all rents to $110 per month in 90 days.
Great upside potential as there are basically no expenses, only a small common area electric bill. Manage it yourself or hire one of the local residents to look over the park and collect rents for you. .
Near the local power plant with a strong and stable work force People are consistently asking about lots for rent and homes for rent, this is a great little park for anyone new to the business, a little work will pay off.
Priced way below market or replacement value for quick sale $205,000 Cash/Bank Financing offers only please, we would possibly consider a small second mortgage as well. Send an email for more information. Will offer 6% commission to any agent bringing a buyer. Motivated Seller. Bring all offers.
Location
In between Winslow and Holbrook, about 1 hour from Flagstaff
Park Information
Community Type: | All Age |
Number of MH Lots: | 40 |
Total Occupancy: | 45.0 % |
Year Built: | 1970 |
Average MH Lot Rent: | $110 |
Size: | 5 acre(s) |
Financial Information (Pro Forma)
Gross Income: | $40 |
Operating Expense: | $7 |
Net Operating Income: | $33 |
Expense Ratio: | 17.5 % |
Utility Information
Water: | City |
Water Paid By: | Tenant - Individual Service |
Sewer: | City |
Park-Owned Homes
Number of Park-owned Homes: | 0 |
Average Rent for Park-owned Homes: | $0 |