Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 5.0%
- Listing ID: 3853701
- Posted On: Oct 19, 2023
- Updated On: Apr 15, 2024
Description
In summary, this 14-unit mobile home park in Richlands, Virginia offers a favorable real estate investment opportunity due to its stable income potential, low operating costs, desirable location, and potential for long-term growth and appreciation.
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Park Information
| Community Type: | All Age |
| Number of MH Lots: | 14 |
| Total Occupancy: | 90.0 % |
| Year Built: | 1972 |
| Average MH Lot Rent: | $100 |
| Size: | 7 acre(s) |
Financial Information (Actual)
| Gross Income: | $17,400 |
| Operating Expense: | $2,500 |
| Net Operating Income: | $14,900 |
| Expense Ratio: | 14.4 % |
Lot Information
| Singlewide Lots: | 0 |
| Doublewide Lots: | 40 |
| Triplewide Lots: | 0 |
| Park Model Lots: | 0 |
RV Information
| Number of RV Lots: | 0 |
| Average RV Lot Rent: | $0 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Submetered |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 0 |
| Average Rent for Park-owned Homes: | $0 |
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