Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Listing ID: 426136
- Posted On: Feb 25, 2014
- Updated On: Sep 2, 2014
Description
Opportunity to acquire an all age manufactured housing community with vacancy upside potential.
There are 19 inventory homes included in the sale consisting of 15 occupied rent to own and two vacant homes (offered at total cost of $174,250) as well as two rentals (included in park price) as of Feb'14.
Attractive non-recourse debt at historically low rates may be available.
A zero tolerance delinquency rent policy was instituted decreasing occupancy, but dramatically increasing the quality of tenant.
Current owner has made substantial capital improvements to the community over the past few years - fill upside is now available to be realized.
Additional parcel abuts the property and can be developed into a mini-storage property as of right now with approved plans in place.
Community is serviced by public utilities (submetered municipal water and sewer).
Amenities
- Club House
Park Information
Community Type: | All Age |
Number of MH Lots: | 315 |
Total Occupancy: | 84.0 % |
Year Built: | 1965 |
Average MH Lot Rent: | $275 |
Size: | 37 acre(s) |
Utility Information
Water: | City |
Water Paid By: | Tenant - Submetered |
Sewer: | City |