Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 16.3%
- Listing ID: 444085
- Posted On: May 13, 2014
- Updated On: Aug 15, 2014
Description
here is an excellent deal. its a 2 acre mhp with 10 lots. all lots have their owe septic tank. it has street lights. park has access to city/county water. lot 1 is on county water. lots 2-10 are on a well operated by the park owner. electric bill for well for park is on average $25/month. park is just outside city limits, located in county. but has easy access to the city and major highways. park is located atbout 40 minutes north of Raleigh on Hwy 1 (capital blvd).
lot 1- lot rent only $200
lot 2-lot rent only $225
lot 3-home financed to tenant for $400/month. still have 70 months left on note
lot 4- lot rent lonly $225
lot 5-lot rent only of $230
lot 6-lot rent only of $225
lot 7-vacant and needs a home
lot 8-lot rent only $230
lot 9-lot rent only $200
lot 10-lot rent only $200
property taxes are about $1300/yr.
tenants paid for their own electric and trash service. tenants also maintain there own lawn. park does have very nice shade trees.
here is a link to a video of the park https://www.youtube.com/watch?v=etYlm6BzNHo
Amenities
- Handicap Accessible
Park Information
Community Type: | All Age |
Number of MH Lots: | 10 |
Total Occupancy: | 90.0 % |
Year Built: | 1976 |
Average MH Lot Rent: | $225 |
Size: | 2 acre(s) |
Financial Information (Actual)
Gross Income: | $2,400 |
Operating Expense: | $25 |
Net Operating Income: | $2,375 |
Expense Ratio: | 1.0 % |
Lot Information
Singlewide Lots: | 10 |
Doublewide Lots: | 0 |
Triplewide Lots: | 0 |
Park Model Lots: | 0 |
RV Information
Number of RV Lots: | 0 |
Average RV Lot Rent: | $0 |
Utility Information
Water: | City |
Water Paid By: | Tenant - Individual Service |
Sewer: | Septic |
Park-Owned Homes
Number of Park-owned Homes: | 0 |
Average Rent for Park-owned Homes: | $400 |