Mobile Home Park Details

  • Purchase Method: Cash
  • Cap Rate: 11.0%
  • Listing ID: 372621
  • Posted On: May 21, 2013
  • Updated On: Aug 20, 2013

Description

Lake View Mobile Home Park consists of 44 spaces just outside the city limits of Leesburg, GA and sits on nearly 14 acres. This quiet community has city lights, paved streets and large lot sizes. Park has historically high occupancy rates with many long term tenants. Several simple value added opportunities exist to create additional income and lower expenses. Sellers are willing to sell for less than $10,000 a pad!! This has great potential for a low maintenance, high yielding investment at this price. Please email for more information.

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Park Information

Community Type: All Age
Number of MH Lots: 44
Total Occupancy: 79.0 %
Year Built: 1972
Average MH Lot Rent: $175
Size: 14 acre(s)

Financial Information (Actual)

Gross Income: $76
Operating Expense: $31
Net Operating Income: $45
Expense Ratio: 40.8 %
Debt Info: None

Utility Information

Water: Well
Water Paid By: Park
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 2
Average Rent for Park-owned Homes: $475

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