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.
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 |