Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 7.5%
- Listing ID: 1547468
- Posted On: Nov 8, 2021
- Updated On: Oct 11, 2022
Description
Rental income opportunity, 5 mobile homes currently rented and 5 open lots available for lot rental or put your own mobile homes there to rent out. Current income is $2475 for the 5 mobile homes rented so there is room to grow this park. Lots of money has been spent on upgrades and remodels this year so the cap rate is lower than it should be.
Location
Directions: From Tifton head south on I-75 and get off on the Lenox exit, go east approximately 1 mile and the property will be on your right. This is the 10 lots in the back of the mobile home park, someone else owns the front 10 lots.
Interested in purchasing this mobile home park? Get pre-qualified for a loan.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 10 |
| Total Occupancy: | 50.0 % |
| Average MH Lot Rent: | $200 |
| Size: | 2 acre(s) |
Financial Information
| Gross Income: | $28,800 |
| Operating Expense: | $11,500 |
| Net Operating Income: | $17,300 |
| Expense Ratio: | 39.9 % |
Lot Information
| Doublewide Lots: | 10 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Individual Service |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 5 |
| Average Rent for Park-owned Homes: | $550 |