Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 7.0%
  • Listing ID: 3325163
  • Posted On: Jul 7, 2023
  • Updated On: Dec 21, 2023

Description

Deer Lakes Trail

- Location: The site is just outside of Hammond, LA in the Baton Rouge MSA. Hammond, LA is home of Southeastern Louisiana University and provides tenants quick access to retail, parks, activities, the Hammond North Shore Regional Airport, and is about a 45 mile drive to Baton Rouge.

- Stabilized Asset still with Value-Add Opportunity: Currently 95% occupied, the site provides a stable and reliable income stream at under-market rental rates, providing a new landlord the opportunity to increase its net cash flow and equity in the property.

- Newer 2019 Clayton Model Homes: Deer Lakes Trail was recently redeveloped with all brand new homes in 2019 with 5 different floor plans, limiting a new landlord’s near term operating expenses and major capital improvements.

Oak Glen Terrace

- Baton Rouge, MSA: The site is located on the north end of Baton Rouge, LA, home of the famous Louisiana State University. This site provides tenants with quick access to retail, parks, activities like the nearby zoo, the Baton Rouge Metro Airport, and so much more.

- Stabilized Asset still with Value-Add Opportunity: Currently 86% occupied, the site provides a stable and reliable income stream at under-market rental rates, providing a new landlord the opportunity to increase its net cash flow and equity in the property.

- Primarily Tenant Owned Homes: With mostly tenant owned homes, this lowers ongoing operational expenses for a new landlord.

Amenities

  • Pool
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Park Information

Number of MH Lots: 125
Total Occupancy: 88.0 %
Year Built: 2019
Average MH Lot Rent: $300
Size: 25 acre(s)

Financial Information

Gross Income: $920,000

Utility Information

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