Mobile Home Park Details
- Purchase Method: Cash
- Cap Rate: 9.0%
- Listing ID: 1563158
- Posted On: Nov 25, 2021
- Updated On: Feb 21, 2022
Description
This property has 5 park-owned homes spread across 3 parcels. 4 homes are on adjacent parcels while the 5th is about 1 block away. These are being sold as a package. Each home has its own septic system. The owner has recently contracted to install new water meters, so each tenant will pay their own water. Age of homes are 1987, 1995, 1996, 1999, 2002. Operating expense includes 10% for management company. 2 homes have new shingle roofs (less than 3 years old). All septic systems have been pumped in the last 6 months.
Location
Indian Hills Subdivision near Lake Hartwell
Interested in purchasing this mobile home park? Get pre-qualified for a loan.
Park Information
Community Type: | All Age |
Number of MH Lots: | 5 |
Total Occupancy: | 100.0 % |
Year Built: | 1995 |
Average MH Lot Rent: | $0 |
Size: | 1 acre(s) |
Financial Information (Actual)
Gross Income: | $33,900 |
Operating Expense: | $18,400 |
Net Operating Income: | $16,550 |
Expense Ratio: | 54.3 % |
Lot Information
Singlewide Lots: | 5 |
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: | City |
Water Paid By: | Tenant - Individual Service |
Sewer: | Septic |
Park-Owned Homes
Number of Park-owned Homes: | 5 |
Average Rent for Park-owned Homes: | $565 |