Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 14.0%
- Listing ID: 405561
- Posted On: Sep 28, 2013
- Updated On: Oct 3, 2014
Description
NO OWNER FINANCING 1.7 acre Mobile Home Park with 14 lots. 12 park owned homes, 1 tenant owned home and 1 vacant lot that can be rented for $300 or a park owned home can be brought in. The park will gross $80 - 90,000 WHEN FULLY OCCUPIED if keeping all the homes. We are currently doing lease/purchase & those agreements will transfer with the park sale. The park is NOT FULLY OCCUPIED NOW. Some homes need interior repair. A very large inventory of building materials will stay with the park. 5 units are currently completed inside and out & are either rented or sold on lease/purchase. All the other units are completed outside & are being worked on inside. The water system was completely rebuilt last year and the grounds have been landscaped.
Location
This park is within walking distance to grocery & drug stores, restaurants, the mall & theater, banks, veterans' health care and only 26 miles to Atlantic Ocean beaches and St. Augustine attractions. Ideal location for Snowbirds.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 14 |
| Total Occupancy: | 29.0 % |
| Average MH Lot Rent: | $300 |
| Size: | 2 acre(s) |
Financial Information
| Gross Income: | $84,000 |
| Operating Expense: | $7,000 |
| Net Operating Income: | $77,000 |
| Expense Ratio: | 8.3 % |
Lot Information
| Singlewide Lots: | 2 |
| Doublewide Lots: | 12 |
Utility Information
| Water: | Well |
| Water Paid By: | Park |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 12 |
| Average Rent for Park-owned Homes: | $600 |