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
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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 |