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Mobile Home Park Details

  • Purchase Method: New Loan
  • Cap Rate: 7.2%
  • Listing ID: 432672
  • Posted On: Apr 17, 2014
  • Updated On: Jul 14, 2014

Description

Good MHP with plenty of upside. Current rents are $65 below market. New owner to take advantage of rent raises. Park is full and has been upgraded by removing old homes and putting in newer homes, renovating them and selling them. 2 homes recently put in (one single, one double) will be put up for sale and expect to sell quickly. Other area parks are full as well. On 2 strong wells and well maintained septic. Very low expenses.

Amenities

  • Storage
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Park Information

Community Type: All Age
Number of MH Lots: 26
Total Occupancy: 100.0 %
Average MH Lot Rent: $360
Size: 11 acre(s)

Financial Information (Actual)

Gross Income: $111
Operating Expense: $28
Net Operating Income: $76
Expense Ratio: 25.2 %

Lot Information

Doublewide Lots: 26

RV Information

Average RV Lot Rent: $360

Utility Information

Water: Well
Water Paid By: Park
Sewer: Septic