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 |