Mobile Home Park Details
- Purchase Method: Cash, Seller Financing, New Loan
- Cap Rate: 7.0%
- Listing ID: 1689484
- Posted On: Jun 11, 2022
- Updated On: Aug 16, 2022
Description
Beautiful 40 acre mobile home and rv park with 110 pads. Paved streets and city water, sewer, and electric, all direct billed to tenants. 9 Different parcels, 2 large on either side of lake, and several on residential street. 90 minutes from Destin FL. Five minutes from Frank Jackson State Park and 10 minutes from South Alabama Speedway. Twenty minutes to Walmart Superstore. Huge opportunity with MHs, RVs or a combination. 2021 positive phase 1 report available upon receipt of acceptable offer.
Location
Opp, AL 36467
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Park Information
| Community Type: | All Age |
| Number of MH Lots: | 110 |
| Total Occupancy: | 20.0 % |
| Year Built: | 1992 |
| Average MH Lot Rent: | $200 |
| Size: | 40 acre(s) |
Financial Information (Pro Forma)
| Gross Income: | $69,600 |
| Operating Expense: | $20,880 |
| Net Operating Income: | $48,720 |
| Expense Ratio: | 30.0 % |
| Debt Info: | Potential for seller financing up to $300K |
RV Information
| Number of RV Lots: | 1 |
| Average RV Lot Rent: | $250 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Individual Service |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 7 |
| Average Rent for Park-owned Homes: | $400 |
