Mobile Home Park Details

  • Purchase Method: Cash, New Loan, Assumable Loan
  • Cap Rate: 6.0%
  • Listing ID: 1947534
  • Posted On: Dec 5, 2022
  • Updated On: Apr 11, 2023

Description

26 lot Mobile Home Park in the heart of Amite City. City water and sewer, with each lot having its own meters. Flood Zone X. There are 9 new homes that are seller owned and will be included in the sale. There are several lots with tenant owned homes and seller collects lot fees on those. All are on month to month leases. Acadian Ambulance is a tenant. Location is close to the hospital, businesses and restaurants. Park is managed by the seller, so there is no management company contract to honor. This is truly a ready to go income producing business.

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Park Information

Community Type: All Age
Number of MH Lots: 26
Total Occupancy: 65.0 %
Average MH Lot Rent: $225
Size: 4 acre(s)

Financial Information (Actual)

Gross Income: $78,020
Operating Expense: $14,900
Net Operating Income: $63,120
Expense Ratio: 19.1 %

Lot Information

Singlewide Lots: 26

Utility Information

Water: City
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 9
Average Rent for Park-owned Homes: $950

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