Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Listing ID: 3649030
  • Posted On: Sep 5, 2023
  • Updated On: Jan 9, 2024

Description

These properties are turnkey with nothing to do but manage. There are no unfilled mobile home spaces. Owners have invested
over 1.5 million in repairs and park improvements. Parks are about 1 mile apart and walking distance to schools.

110 E Prince Rd has 13 mobile homes, 2 rental houses
3311 N Flowing Well Rd has 21 mobile homes
Parks are gated, decoratively rocked, and all units look great
Space rents range from $465 to $495 , house rents $695
Additionally there are 3 park owned units and 28 notes secured by mobiles with a value of $620,000.
Parks and notes to be sold together.
Notes are fully amortized at 15% interest with avg maturity 67 months.
The owners manage the parks remotely with no need for on-site management. There is an established infrastructure of local repair and maintenance contractors including a large on-site storage shed for tools, parts, and equipment.

The tenants pay all utilities. Gas is billed direct from gas company. Electric and water are sub metered. Tenants use trash bins and
pay a monthly fee. Water and sewer is public. All tenants own their mobile home.

3311 N flowing Wells is in an opportunity zone.

Park permits are in good standing and there are no outstanding issues with any government agency.

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Park Information

Community Type: All Age
Number of MH Lots: 35
Total Occupancy: 92.0 %
Average MH Lot Rent: $495

Utility Information

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

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