Mobile Home Park Details
- Purchase Method: Cash, Seller Financing, Assumable Loan
- Cap Rate: 8.0%
- Listing ID: 1902381
- Posted On: Oct 5, 2022
- Updated On: Jan 4, 2023
Description
Welcome to your starter park you have been looking for. This has been a good park for us, but we have other things that are drawing our attention away.
22 lots, 13 occupied TOHs, and 2 POHs(vacant) city water/sewer sub metered with metron meters. Individual trash that can be billed back.
WE have never raised lot rent since we took over 2 years ago. We have fixed the sewer line and water lines within the park as well.
Park is small, but solid cash flow for someone who wants to get started or is looking to see what MHP is about.
There is a seller financing note that is assumable by qualified buyer, 150k left on it. 5 years its due in full.
Interested in purchasing this mobile home park? Get pre-qualified for a loan.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 22 |
| Total Occupancy: | 70.0 % |
| Year Built: | 1975 |
| Average MH Lot Rent: | $250 |
| Size: | 5 acre(s) |
Financial Information (Actual)
| Gross Income: | $40,000 |
| Operating Expense: | $14,000 |
| Net Operating Income: | $26,000 |
| Expense Ratio: | 35.0 % |
| Debt Info: | assumable seller financing note(150,000 left on note for 5 more years) |
Lot Information
| Singlewide Lots: | 22 |
| Doublewide Lots: | 1 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Submetered |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 2 |
| Average Rent for Park-owned Homes: | $0 |
