Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 11.5%
  • Listing ID: 18346
  • Posted On: Nov 29, 2010
  • Updated On: Nov 29, 2010

Description

This 24 space is made up of 23 RV spaces & a 2216 sf single family manufactured home. 92% pf s[aces are leased to truck drivers, retirees, and self-employed business owners living there on a permanent basis. Park is currently ohn a new two tank evaporative aerated septic system that requires cleanout every 5 years. City of Cleburne has completed survey & is currently in process of obtaining right of way easements to install city sewer line. Number of RV spaces can be increased after sewer line installed. Located on 2.30 acres.

Location

Located on Hwy 67, East of downtown Cleburne approximately 2 miles.

Amenities

  • Club House
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Park Information

Community Type: All Age
Total Occupancy: 92.0 %
Year Built: 1997
Size: 2 acre(s)

Financial Information (Actual)

Gross Income: $98,100
Operating Expense: $35,875
Net Operating Income: $54,377
Expense Ratio: 36.6 %

RV Information

Number of RV Lots: 23
Average RV Lot Rent: $316

Utility Information

Water: City
Water Paid By: Park
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 1
Average Rent for Park-owned Homes: $900

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