Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 6.5%
  • Listing ID: 1677089
  • Posted On: May 26, 2022
  • Updated On: Jun 9, 2022

Description

Well established stabilized park in a great growth area. No vacancies or "pull outs" since it's inception over 20 years ago. Managed from Florida for over 6 years with little effort. Minimal expenses with "lots only". Updated and maintained regularly.

Location

Ideally located between the downtowns of Mebane and Hillsborough just off of I-40 and I-85 near the Research Triangle Park and Duke University and Elon University.

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Park Information

Community Type: All Age
Number of MH Lots: 12
Total Occupancy: 100.0 %
Year Built: 1998
Average MH Lot Rent: $396
Size: 3 acre(s)

Financial Information (Actual)

Gross Income: $57,672
Operating Expense: $12,843
Net Operating Income: $44,829
Expense Ratio: 22.3 %
Debt Info: Cash or new loan

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: 0
Average Rent for Park-owned Homes: $396

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