Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park

Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 11.0%
  • Listing ID: 407709
  • Posted On: Oct 7, 2013
  • Updated On: Oct 12, 2014

Description

Incredible investment opportunity. A CASH COW! 18 lot mobile home park on 19+ acres in Hauser Lake. This price generates over an 11% ROI. Gross income is about $60,000 per year ($300/unit - and beginning May 1 $325/unit), expenses at $10,000+/- per year gives an incredible net income of about $50,000 annually. Also has a 5 bay shop that can be rented out. Water, garbage and taxes are the only expenses at $900+/- per month. Mobile home park is a grandfathered use. Park sits on 3+/- acres leaving 16+/- acres for another home site with beautiful views. Newer drainfields, City of Hauser water. Mobiles are owned by the tenants and the tenants maintain their own yards, so the maintenance requirement is minimal.

Amenities

  • Storage
Interested in purchasing this mobile home park? Get pre-qualified for a loan.

Park Information

Community Type: All Age
Number of MH Lots: 18
Total Occupancy: 94.0 %
Year Built: 1972
Average MH Lot Rent: $300
Size: 19 acre(s)

Financial Information (Actual)

Gross Income: $60,000
Operating Expense: $10,000
Net Operating Income: $50,000
Expense Ratio: 16.7 %

Lot Information

Doublewide Lots: 18

RV Information

Number of RV Lots: 18
Average RV Lot Rent: $300

Utility Information

Water: City
Water Paid By: Park
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 1
Average Rent for Park-owned Homes: $600