Mobile Home Park For Sale
Mobile Home Park For Sale
Mobile Home Park For Sale
Mobile Home Park For Sale
Mobile Home Park For Sale
Mobile Home Park For Sale
Mobile Home Park For Sale
Mobile Home Park For Sale
Mobile Home Park For Sale
Mobile Home Park For Sale
Mobile Home Park For Sale
Mobile Home Park For Sale
Mobile Home Park For Sale
Mobile Home Park For Sale
Mobile Home Park For Sale

Mobile Home Park Details

  • Purchase Method: Assumable Loan
  • Cap Rate: 7.0%
  • Listing ID: 15394
  • Posted On: Aug 17, 2010
  • Updated On: Feb 3, 2014

Description

Ridgecrest is a well managed, well cared for park catering to retirees as does the area of Ormond and Daytona Beach. Rental rates are reasonable for this community that has catered to seniors for many years. The area offers a great amount for retirees to do, including the great weather, fishing and visiting the local attractions close by in Orlando, the Daytona International Speedway and the Kennedy Space Center. This investment offers good returns with in-place financing at an excellent rate. The owner is in the process of renovating the 12 vacant mobile homes now for sale offering upside in rental income. Also, the RV secition has vacant sites available as well.

Interested in purchasing this mobile home park? Get pre-qualified for a loan.

Park Information

Community Type: 55 And Over
Number of MH Lots: 125
Total Occupancy: 84.0 %
Year Built: 1950
Average MH Lot Rent: $355
Size: 9 acre(s)

Financial Information (Actual)

Gross Income: $455,811
Operating Expense: $219,096
Net Operating Income: $236,715
Expense Ratio: 48.1 %
Debt Info: $2.550M, 5.5%, 30 yr due 10/2015

RV Information

Number of RV Lots: 23
Average RV Lot Rent: $210

Utility Information

Water: City
Water Paid By: Tenant - Submetered
Sewer: City

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