Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 9.6%
- Listing ID: 1666785
- Posted On: May 11, 2022
- Updated On: May 16, 2024
Description
Well maintained 11 unit Mobile Home Park. All units owned by Seller. 2.47 acres. Substantial investment in capital improvements since 2015. Units range in age from 1980-2001. All units have off street parking. 2 units with garages and 3 units with carports. Park managers on site. Month to Month Leases. Long term renters. Park water source is a well. The Park pays for the electricity for the well and trash service. Tenants pay for gas and electricity. Fiber optic service provided by ALLO. Ability to increase NOI with rent increases that match market rents. 9.55% Cap Rate.
Location
2906 W. Overland and 2916 W. Overland #'s 1 - 10. Located in a friendly neighborhood with lots of sunlight. Outside of city limits, but close to all Scottsbluff schools and amenities. Property is on a dead-end road. Traffic is light.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 11 |
| Total Occupancy: | 100.0 % |
| Year Built: | 1979 |
| Size: | 3 acre(s) |
Financial Information (Actual)
| Gross Income: | $28,900 |
| Operating Expense: | $4,977 |
| Net Operating Income: | $23,922 |
| Expense Ratio: | 17.2 % |
| Debt Info: | None |
Lot Information
| Singlewide Lots: | 8 |
| Doublewide Lots: | 3 |
| Triplewide Lots: | 0 |
| Park Model Lots: | 0 |
RV Information
| Number of RV Lots: | 0 |
| Average RV Lot Rent: | $0 |
Utility Information
| Water: | Well |
| Water Paid By: | Park |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 11 |
| Average Rent for Park-owned Homes: | $750 |
