Mobile Home Park Details
- Cap Rate: 10.0%
- Listing ID: 3043588
- Posted On: May 31, 2023
- Updated On: Aug 21, 2023
Description
-13 unit mobile home park.
-3 bedroom, 2 baths on all except for #2, which is a 2/2.
-All units are currently park owned.
-Utilities are individually metered. Septic is 1:1 without issues and well maintained.
-Units 3-13 all have new roofs and have been renovated within the last 4 years.
-Very high demand for affordable housing in this area, a lot of room for rent appreciation when filling vacancies or renewing leases. Rents have appreciated 10+% YoY each of the last 5 years
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Park Information
Community Type: | All Age |
Number of MH Lots: | 13 |
Total Occupancy: | 100.0 % |
Year Built: | 2020 |
Size: | 5 acre(s) |
Financial Information (Pro Forma)
Gross Income: | $97,320 |
Operating Expense: | $29,000 |
Net Operating Income: | $68,124 |
Expense Ratio: | 29.8 % |
Lot Information
Singlewide Lots: | 13 |
Utility Information
Water: | City |
Water Paid By: | Tenant - Individual Service |
Sewer: | Septic |
Park-Owned Homes
Number of Park-owned Homes: | 13 |
Average Rent for Park-owned Homes: | $625 |