Mobile Home Park Details
- Cap Rate: 6.3%
- Listing ID: 2199990
- Posted On: Mar 21, 2023
- Updated On: May 7, 2024
Description
As part of a 3-part portfolio, available together or separately. Contact CPX for more information.
FLYING V MOBILE HOME PARK is a 27-space mobile home park in Lewiston, Idaho. Currently, the Property is 93% occupied by all tenant-owned homes. Tenants are responsible for electric and gas usage, providing the Landlord with limited upkeep and expense. The Property is serviced by public utilities, including water and sewer. The Property is located in a strong residential area of Lewiston where there is high demand for similar spaces. The Property is one mile from Thain Road, a major thoroughfare in Lewiston, which hosts grocers, restaurants, and other retailers. Two miles north of the Property, is the heart of Lewiston and many nearby amenities and schools, including WinCo Foods, Albertsons, public parks, and Lewis-Clark State College, with nearly 4,000 undergraduate students. Unlike its West Coast neighbors of Oregon, California, and eventually Washington, the state of Idaho does not have rent control in-place to restrict the amount a Landlord or Owner is able to increase rents by. Flying V Mobile Home Park is an excellent investment opportunity for an Investor looking for a stabilized asset with the opportunity for upside, minimal landlord work, and within a market with strong rental demand.
Park Information
Number of MH Lots: | 27 |
Total Occupancy: | 93.0 % |
Year Built: | 1976 |
Size: | 2 acre(s) |
Financial Information
Net Operating Income: | $87,641 |