Mobile Home Park Details
- Purchase Method: Cash
- Cap Rate: 9.5%
- Listing ID: 455956
- Posted On: Jun 18, 2014
- Updated On: Jun 23, 2016
Description
Located in the Greenville / Spartanburg Corridor; arguably the strongest economy in the country, this 104 pad park is priced well on existing occupancy yet still has room for value add. The 30 vacant pads if leased at $250 per month create $90,000 in cash flow or $800,000 in added value. Demand is high.
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Park Information
| Community Type: | All Age |
| Number of MH Lots: | 104 |
| Total Occupancy: | 65.0 % |
| Year Built: | 0 |
| Average MH Lot Rent: | $220 |
| Size: | 22 acre(s) |
Financial Information (Actual)
| Gross Income: | $252 |
| Operating Expense: | $100 |
| Net Operating Income: | $151 |
| Expense Ratio: | 39.7 % |
| Debt Info: | none |
Lot Information
| Singlewide Lots: | 90 |
| Doublewide Lots: | 14 |
Utility Information
| Water: | City |
| Water Paid By: | Park |
| Sewer: | Treatment Plant |
Park-Owned Homes
| Number of Park-owned Homes: | 34 |
| Average Rent for Park-owned Homes: | $450 |
