Mobile Home Park Details

  • Purchase Method: Cash
  • Listing ID: 367517
  • Posted On: Mar 26, 2013
  • Updated On: Feb 18, 2014

Description

At present there are 32 lots with relatively new homes set-up and rented (100% Occupancy) This property is zoned as a Mobile Home Subdivision with the intent of selling the lots and homes to the renters. Since the owner has decided to sell the whole sub-division the new owner can decide whether to rent or sell. There are an additional 93 improved lots available separately for $930,000, as well as a 1.2 Acre commercial lot available at $375,000. A great investment opportunity.
To see the Virtual Tour click on the following link: http://midlandshomeshow.com/bgu2/

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Park Information

Community Type: All Age
Number of MH Lots: 125
Total Occupancy: 100.0 %
Year Built: 2009
Average MH Lot Rent: $275
Size: 76 acre(s)

Financial Information (Actual)

Gross Income: $216,000
Operating Expense: $20,000
Net Operating Income: $196,000
Expense Ratio: 9.3 %
Debt Info: 0

Lot Information

Singlewide Lots: 125
Doublewide Lots: 125
Triplewide Lots: 125

Utility Information

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

Park-Owned Homes

Number of Park-owned Homes: 32
Average Rent for Park-owned Homes: $750

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