Mobile Home Park Details
- Purchase Method: Cash
- Cap Rate: 12.0%
- Listing ID: 455029
- Posted On: Jun 10, 2014
- Updated On: Jun 10, 2015
Description
200 spaces, 60 acres, 75 mobile homes, great potential to build up. Near by hospital and the Golf course, in a nice area of the town. The City is getting funding for the growth and bringing more business to the area. The housing is in demand. Just added 30 more homes. The expenses include $4300/month for water that can be eliminated with 30 K investment to sub-meter with the city....Cap rate would increase to 16 %. Partnership is out of funds.....Make an offer, seller motivated!
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: | 200 |
Total Occupancy: | 95.0 % |
Year Built: | 1960 |
Average MH Lot Rent: | $250 |
Size: | 60 acre(s) |
Financial Information (Actual)
Gross Income: | $228,000 |
Operating Expense: | $150,000 |
Net Operating Income: | $78,000 |
Expense Ratio: | 65.8 % |
Debt Info: | none |
Lot Information
Singlewide Lots: | 200 |
Utility Information
Water: | City |
Water Paid By: | Park |
Sewer: | Treatment Plant |
Park-Owned Homes
Number of Park-owned Homes: | 57 |
Average Rent for Park-owned Homes: | $400 |