End of street
Mobile Home Park Details
- Purchase Method: Cash
- Cap Rate: 12.0%
- Listing ID: 425289
- Posted On: Feb 17, 2014
- Updated On: Mar 17, 2014
Description
Actual 12% return, with room to increase rents. Very well located 20 unit mobile home park, with 10 park owned units and 10 lot rentals. Existing onsite management expense is included in the numbers, and you will still realize a great 12% return.
Upside potential in raising rents and billing back water usage to tenants. Many long term tenants. Each pad is individually metered for electric.
Please do not talk to anyone in park!!!!!.
Location
Adjacent to a well maintained mobile home park and surrounded by million dollar homes. Very prestigious Pinellas county location. Less than 5 minutes to Indian Rocks Beach
Principals Only. No Co-Brokerage available. Brokers protected but please get compensation directly from buyer.
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: | 20 |
| Total Occupancy: | 100.0 % |
| Average MH Lot Rent: | $500 |
| Size: | 1 acre(s) |
Financial Information (Actual)
| Gross Income: | $90,000 |
| Operating Expense: | $30,000 |
| Net Operating Income: | $60,000 |
| Expense Ratio: | 33.3 % |
Lot Information
| Singlewide Lots: | 20 |
Utility Information
| Water: | City |
| Water Paid By: | Park |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 10 |
| Average Rent for Park-owned Homes: | $500 |