House
House
Park
Park
Photo of Mobile Home Community
Photo of Mobile Home Community
House
Park
Photo of Mobile Home Community

Mobile Home Park Details

  • Purchase Method: Cash, Seller Financing, New Loan
  • Cap Rate: 15.0%
  • Listing ID: 252559
  • Posted On: Aug 21, 2012
  • Updated On: Oct 10, 2012

Description

MAKE ME ANY OFFER! MUST CLOSE FAST! Great Opportunity for huge returns! This property must go! Settlement to occur ASAP. The property includes a stick built ranch style structure, zoned for 40 units, currently has 29 on it, 28 are park owned. The property currently brings in $223,000 a year with $37,000 in expenses. That means you realize a 15% Cap Rate. The property has a laundry facility and room for a storage facility. The property is serviced by 1 well and 3 septic’s. The tenants and staff do not know the property is being sold, so please schedule a time to view it with us. Please NO entering the premises without permission. Contact Us for a flyer. We maybe able to negotiate seller financing from the owner if you wish to partner with us.

Amenities

  • Laundromat
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Park Information

Community Type: All Age
Number of MH Lots: 40
Total Occupancy: 95.0 %
Size: 10 acre(s)

Financial Information (Pro Forma)

Gross Income: $223,140
Operating Expense: $37,858
Net Operating Income: $185,282
Expense Ratio: 17.0 %

Utility Information

Water: Well
Water Paid By: Park
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 28
Average Rent for Park-owned Homes: $750

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