Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 11.6%
  • Listing ID: 1607161
  • Posted On: Feb 17, 2022
  • Updated On: Sep 1, 2022

Description

20 Mobile home spaces on 19 acres @ 8% Cap + POH income = 11.59% Cap

Hi this 20 space park includes 12 park owned mobile homes and 8 tenant owned mobile homes. I valued the park at an 8% cap on its own and then valued the 12 homes at a 15% cap. You could move to sell off the mobile homes or hold and rent them for 7 years and make back your full investment on the 12 homes and then sell them off to make some extra profit and create an interest stream. The park has a rural feel with nice big views, with access to off-highway-vehicles [OHV] area at the Littlerock Dam but is only 8 minutes from Lowes Home Improvement Store and Walmart. Download the Opportunity Report details for more info

Location

Near Littlerock Dam, 8 minutes from Lowes and Walmart

Amenities

  • Laundromat
  • Storage
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Park Information

Community Type: All Age
Number of MH Lots: 20
Total Occupancy: 100.0 %
Year Built: 1959
Average MH Lot Rent: $438
Size: 19 acre(s)

Financial Information (Actual)

Gross Income: $236,329
Operating Expense: $103,031
Net Operating Income: $133,298
Expense Ratio: 43.6 %

Utility Information

Water: Well
Water Paid By: Tenant - Submetered
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 12
Average Rent for Park-owned Homes: $559

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