Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 9.0%
  • Listing ID: 1574300
  • Posted On: Dec 14, 2021
  • Updated On: Mar 15, 2022

Description

48 Lots with 34 POH and 2 TOH and 12 vacant lots. New rents range from $650 to $1000 for rentals. TOH is only $150.

Six new homes are on a lease with Legacy. The 8 year lease on these homes is transferable. If you would prefer to pay them off, than add about $200,000 to the purchase price

Most of the homes have been renovated and painted. Homes range from late 90's to 2021.

For More Information click here. https://www.dropbox.com/sh/2q0zyrvr1hccslk/AAA_CDsQhcLNpiZP6fUXwYDEa?dl=0

Two very clean, safe, well maintained country communities located 1.5 hours from the white sandy beaches of Panama City Florida in the Dothan Al area. These are perfect assets to keep in your portfolio for stability and growth.

Dothan Al has a strong population within a 25 mile radius of around 110,618, (https://www.freemaptools.com/find-population.htm).

Dothan Al is the eighth largest city in Alabama with an abundance of businesses and restaurants for your tenants.

Both communities offer a country setting with pasture and forest surrounding the parks and the bright lights of the stars up above at night.

All lots are individually metered with city water, power and a maintained septic system. The sandy soil in this region is perfect for this type of system. All septic systems were permitted by county.

80% of the homes have a tin roof installed.

All HVAC systems where tenants live have been checked and are in good working order.

Every listing on FB or Craigslist brings in enough prospects to select from and fill any home. No shortage of tenants.

Call now or email at ParksUnlimited@yahoo.com. 770-722-4239

Location

Lots are large and level with few trees.

Amenities

  • Storage
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Park Information

Community Type: All Age
Number of MH Lots: 48
Total Occupancy: 88.0 %
Year Built: 2000
Average MH Lot Rent: $295
Size: 15 acre(s)

Financial Information (Actual)

Gross Income: $245,664
Operating Expense: $85,982
Net Operating Income: $159,681
Expense Ratio: 35.0 %

Lot Information

Singlewide Lots: 48
Doublewide Lots: 5

Utility Information

Water: City
Water Paid By: Tenant - Individual Service
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 34
Average Rent for Park-owned Homes: $750

Video

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