Mobile Home Park Details
- Purchase Method: Cash
- Cap Rate: 27.0%
- Listing ID: 413790
- Posted On: Nov 8, 2013
- Updated On: Feb 10, 2014
Description
We are offfering a 3 unit mobile home package for sale in Rossville, Ga, with a 35% CAP rate.
The newly renovated homes are located in a quiet neighborhood around Lookout Mountain, just 5 minutes away from major shopping and attractions.
Two of the homes are from 1999 and feature central heating, storage facilities, and an extended yard. The third unit is from 1979, and includes an extended porch & backyard with a small creek.
All 3 units have been newly renovated and include:
- New Carpets & Flooring
- New Paint
- Appliances
- Granite Counter tops
Tenants have just signed new lease agreements.
The units are individually metered & require a lot rent of $150.
Cap rate after lot rent payment is 41%.
Rents are as follows:
519 Mohawk St: $500
522 Mohawk St $500
25 Ellis Rd: $475
-------------------------
Monthly Income = $1,475
- Lot Rent= $ 450
--------------------------
Net Income= $1,025/mo.
The units are in great shape.
Please feel free to contact us with any questions.
Thanks & Have a Great Day!!
(312) 619 0642
Amenities
- Storage
Park Information
| Number of MH Lots: | 3 |
| Total Occupancy: | 100.0 % |
| Year Built: | 1999 |
| Average MH Lot Rent: | $500 |
| Size: | 0 acre(s) |
Financial Information (Actual)
| Gross Income: | $1,475 |
| Operating Expense: | $5,400 |
| Net Operating Income: | $12,300 |
| Expense Ratio: | 366.1 % |
Lot Information
| Singlewide Lots: | 3 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Individual Service |
| Sewer: | City |