Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 6.2%
- Listing ID: 1736646
- Posted On: Aug 16, 2022
- Updated On: Feb 16, 2023
Description
Rare mobile home park available for sale in New Castle. Situated on
2.43 acres featuring 11 apartments units and 38 mobile home lots (all tenant owned homes). Connected to public water and sewer this property is fully stabilized and ready for a new owner.
Location
Located close to public transportation and near major routes
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Park Information
| Community Type: | All Age |
| Number of MH Lots: | 38 |
| Total Occupancy: | 100.0 % |
| Average MH Lot Rent: | $500 |
| Size: | 2 acre(s) |
Financial Information (Pro Forma)
| Gross Income: | $310,800 |
| Operating Expense: | $89,178 |
| Net Operating Income: | $221,621 |
| Expense Ratio: | 28.7 % |
Utility Information
| Water: | City |
| Water Paid By: | Park |
| Sewer: | City |