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Mobile Home Park Details

  • Purchase Method: New Loan
  • Cap Rate: 7.6%
  • Listing ID: 371141
  • Posted On: May 7, 2013
  • Updated On: Nov 15, 2013

Description

The Westaire MHP is a nicely laid out Mobile Home Park with a mixture of single wide homes and double wide homes. The park is in good condition with many benefits because the layout is conducive to adding spaces, the park was recently hooked up to city sewer and the park is served by city water. The infrastructure is in good shape and the tenant base is solid. It is very easy to keep full and vacant spaces are rare. Water bill is very consistent and water leaks are rare, indicating a solid water pipe system as well.

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Park Information

Community Type: All Age
Number of MH Lots: 44
Total Occupancy: 100.0 %
Year Built: 1973
Average MH Lot Rent: $390
Size: 9 acre(s)

Financial Information (Actual)

Gross Income: $211
Operating Expense: $82
Net Operating Income: $128
Expense Ratio: 38.9 %
Debt Info: $900,000 owed: non assumable

Utility Information

Water: City
Water Paid By: Park
Sewer: City