Mobile Home Park Details
- Purchase Method: Cash, New Loan, Assumable Loan
- Cap Rate: 9.0%
- Listing ID: 18263
- Posted On: Sep 8, 2011
- Updated On: Sep 10, 2011
Description
Southwind is comprised of 68 homesites. The lots are 40'x100' and there are many late model manufactured homes. In addition, the park typically will have 3 to 10 RV's renting by the month from the Marathon Oil Plant accross the street.
There are currently 33 occupied lots (a few rent-to-own homes).
Lot rent is $154 plu $15 for water for a total of $169 per month.
City Water & Sewer Paid by Park. Gas & Electric paid by tenants to Public Utility.
About 10+ acres - Wide gravel roads with curbs
Existing Survey Available - Clean Phase 1
Location
The park is laid out nicely and there is ample room to grow the net operating income by working with the Marathon Oil Plant as well as putting in homes for sale or rent. All the yards have offstreet parking and grass yards. Good location just needs someone that wants to actively promote this community. The nicest park in the area.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 68 |
| Total Occupancy: | 50.0 % |
| Year Built: | 1980 |
| Average MH Lot Rent: | $169 |
| Size: | 10 acre(s) |
Financial Information (Actual)
| Gross Income: | $75,000 |
| Operating Expense: | $40,000 |
| Net Operating Income: | $35,000 |
| Expense Ratio: | 53.3 % |
| Debt Info: | Local Bank Financing |
Lot Information
| Singlewide Lots: | 68 |
RV Information
| Average RV Lot Rent: | $300 |
Utility Information
| Water: | City |
| Water Paid By: | Park |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 3 |
| Average Rent for Park-owned Homes: | $200 |
