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 |