Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 10.0%
  • Listing ID: 369991
  • Posted On: Apr 22, 2013
  • Updated On: Sep 3, 2013

Description

Desirable Downtown location directly across the street from Shippensburg University. Situated in the middle of over 5,000+ student housing units creates added potential for future development. 42 pad community with a small rented commercial building at 40 Middle Spring Road included inside. Solid investment with public utilities. Mostly tenant owned homes with several rent-to-own units. See listing agent for financials and complete rent roll

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Park Information

Community Type: All Age
Number of MH Lots: 42
Total Occupancy: 88.0 %
Year Built: 1960
Average MH Lot Rent: $266
Size: 4 acre(s)

Financial Information (Actual)

Gross Income: $136,033
Operating Expense: $54,371
Net Operating Income: $81,662
Expense Ratio: 40.0 %

Lot Information

Singlewide Lots: 42
Doublewide Lots: 0

Utility Information

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

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