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Mobile Home Park Details
- Purchase Method: Cash, Seller Financing, Assumable Loan
- Cap Rate: 27.0%
- Listing ID: 19115
- Posted On: Jan 13, 2011
- Updated On: May 18, 2016
Description
31 space park- cap rate is legit
all homes owned by tenants on a RTO
city water/sewer
gravel roads
mgrs live in park (free home provided)
PLEASANTON one hour south of KC MO
29k down and will finance 120k note.
park will net you after ($1250) payment $1,200 per month-
46% ROI- with no further improvements
Why selling-Partner wants to be cashed out.
UPSIDE- THERE IS ABOUT 400 JOBS MOVING INTO THE AREA , OF WHICH THERE IS NO HOUSING, THESE ARE 3-4 YR JOBS.
THAT WOULD CATER TO RVS IN A TREMENDOUS WAY, I WOULD RENT TO THESE RVERS, AND CHARGE 2-250 PER MONTH WITH TENANT PAYING ALL UTILITES,
email clintongrim@boxbe.com
Location
pleasanton ks
Amenities
- Storage
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Park Information
| Number of MH Lots: | 31 |
| Total Occupancy: | 50.0 % |
| Year Built: | 1960 |
| Average MH Lot Rent: | $300 |
| Size: | 4 acre(s) |
Financial Information (Actual)
| Gross Income: | $44,000 |
| Operating Expense: | $15,000 |
| Net Operating Income: | $29,000 |
| Expense Ratio: | 34.1 % |
| Debt Info: | Owner carry |
Lot Information
| Singlewide Lots: | 30 |
| Park Model Lots: | 14 |
RV Information
| Number of RV Lots: | 0 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Submetered |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 13 |
| Average Rent for Park-owned Homes: | $275 |