Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Listing ID: 1631694
  • Posted On: Mar 25, 2022
  • Updated On: Dec 28, 2023

Description

PLEASE DO NOT CONTACT TENANTS...PLEASE SIGN ATTACHED CONFIDENTALLY AGRREMENT IF REQUESTING Offering Memorandum. 30 lot mobile home park. 28-lots occupied. 27-park owned homes. 1-tenant owned home. 4-potential lots available: Lots 7A, 26A & 29 need water meters, sewer, electrical meters.
Other potential lots available in the grassy area located in the center of the park. City water & sewer. 2013 all water & sewer lines replace and upgraded in the park. Tenant pays electricity
Park pays water, trash & common area maintenance. Adjoining 4 acres may be available. Outside City Limits. Actual profit loss 2016 through 2021 attached in Offering Memorandum. 10% Cap Rate. Seller has quotes for Utility Cost Recovery Services to be provided in due diligence.

Location

Excellent neighborhood. Single Family Homes Subdivisions

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Park Information

Community Type: All Age
Number of MH Lots: 30
Total Occupancy: 100.0 %
Average MH Lot Rent: $350
Size: 5 acre(s)

Financial Information (Pro Forma)

Gross Income: $190,000
Operating Expense: $62,500
Net Operating Income: $127,500
Expense Ratio: 32.9 %

Utility Information

Water: City
Water Paid By: Park
Sewer: City

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