Longstreet-Mobile-Village-Arial.jpg
Longstreet-Mobile-Village-Arial.jpg
Longstreet-Mobile-Village-Arial.jpg

Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 10.0%
  • Listing ID: 281318
  • Posted On: Sep 28, 2012
  • Updated On: Mar 4, 2013

Description

The property is a 69 space mobile village located in River Ridge at 247 Marmandie Avenue, two blocks north of Jefferson Highway. Each mobile home site is individually metered for both sewer and electric. All utilities and roads are privately owned. The park is currently 97% leased with monthly rents between $320 - $375 and none of the mobile homes are owned by the park (all owned by tenants). Also, not included in gross revenue number below is the potential for laundry income, which is not currently in operation but brought in $4,800 in previous years.

Location

Greater New Orleans Area (River Ridge, LA)

Amenities

  • Laundromat
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Park Information

Community Type: All Age
Number of MH Lots: 69
Total Occupancy: 97.0 %
Average MH Lot Rent: $340
Size: 4 acre(s)

Financial Information (Actual)

Gross Income: $272,723
Operating Expense: $70,473
Net Operating Income: $202,250
Expense Ratio: 25.8 %

Lot Information

Singlewide Lots: 69

RV Information

Number of RV Lots: 0

Utility Information

Water: City
Water Paid By: Tenant - Submetered
Sewer: City