Mobile Home Park Details
- Purchase Method: Cash, New Loan, Assumable Loan
- Cap Rate: 14.0%
- Listing ID: 456836
- Posted On: Jun 26, 2014
- Updated On: May 1, 2015
Description
Profitable smaller mobile home park with assumable mortgage (20 year @ 5%) or investor secure new loan. Country setting with mature Live Oak trees, yet close to town. Ten mobile units and one apartment all park owned. All units well-maintained. Many stable, long-term tenants. One brand new a/c and several newer units. Many units have new roofs and drain fields. New paint on one exterior unit and two porches. One unit in process of roof-over. Installed garden tub in one unit, new tile floor, carpet and interior paint in several units. 11x11 metal storage shed with a/c and heat and enclosed garage attached to the apartment.
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Park Information
Community Type: | All Age |
Number of MH Lots: | 10 |
Total Occupancy: | 98.0 % |
Average MH Lot Rent: | $575 |
Size: | 4 acre(s) |
Financial Information
Gross Income: | $72,000 |
Operating Expense: | $18,620 |
Net Operating Income: | $54,380 |
Expense Ratio: | 25.9 % |
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: | Well |
Water Paid By: | Park |
Sewer: | Septic |
Park-Owned Homes
Number of Park-owned Homes: | 11 |
Average Rent for Park-owned Homes: | $575 |