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Park 011.jpg
Park 011.jpg

Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Listing ID: 277232
  • Posted On: Sep 23, 2012
  • Updated On: Sep 24, 2014

Description

61 space park with 12% ANNUAL RETURN (that is with only 71% current occupancy). There are 18 park owned homes with 15 currently rented. When the 3 unoccupied park owned rentals (30 to 60 days) are rented the RETURN IS 13.7%. There is still additional room for increased income when the empty lots are rented.
22 total acres of which about 1/2 are undeveloped (additional lots can be added). The rentals average $450/home. There are 26 spaces out of 43 currently renting at $160/mo. Lot rents have been increased only $10 for the past 3 years. There has been no increase on the park rentals in 3 years. Paved roads and parking pads, city water and electricity individually metered and paid by tenants, septic sewer and trash supplied by the park. Included in price is new Kubota tractor/backhoe. Manager on site. Contact owner (805) 241-3253 for more information.

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Park Information

Community Type: All Age
Number of MH Lots: 61
Total Occupancy: 71.0 %
Average MH Lot Rent: $160
Size: 22 acre(s)

Financial Information (Actual)

Gross Income: $139
Operating Expense: $26
Net Operating Income: $105
Expense Ratio: 18.7 %

Lot Information

Singlewide Lots: 10
Doublewide Lots: 51

RV Information

Number of RV Lots: 0
Average RV Lot Rent: $0

Utility Information

Water: City
Water Paid By: Tenant - Individual Service
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 18
Average Rent for Park-owned Homes: $450

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