Mobile Home Park Details
- Purchase Method: Cash, Seller Financing, New Loan
- Cap Rate: 10.8%
- Listing ID: 1993581
- Posted On: Jan 14, 2023
- Updated On: Nov 16, 2023
Description
Briarcliff Estates features 44 individually deeded lots with direct bill city water and sewer. Immaculate paved roads, maintained by the city. 90% occupancy rates with 4 vacant homes. Priced at over a 10% cap rate off of 2022 actuals and a 13% cap rate on 2023 pro-forma. Immediate Cash Flow Generator.
Owner Financing Available.
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Park Information
Community Type: | All Age |
Number of MH Lots: | 44 |
Total Occupancy: | 93.0 % |
Average MH Lot Rent: | $300 |
Size: | 17 acre(s) |
Financial Information (Pro Forma)
Gross Income: | $262,061 |
Operating Expense: | $104,824 |
Net Operating Income: | $157,235 |
Expense Ratio: | 40.0 % |
Debt Info: | Owner Financing Available |
Lot Information
Singlewide Lots: | 44 |
Doublewide Lots: | 44 |
Utility Information
Water: | City |
Water Paid By: | Tenant - Individual Service |
Sewer: | City |
Park-Owned Homes
Number of Park-owned Homes: | 35 |
Average Rent for Park-owned Homes: | $700 |