Mobile Home Park Details

Purchase Method: Cash, Seller Financing, New Loan
Cap Rate: 6.0%
Listing ID: 457301
Posted On: Jul 1, 2014
Updated On: May 30, 2016

Description

16 Acre Park, PLUS additional (approx.) 30 acres adjoining. 60 space park, 18 of which are owned. Rented Homes vary in size and age, from 2bd, 2bath, to 3bd/2ba, to 3bd/1bath, etc..etc...(1 is Brand new 2016)
Building on location can be used as office and/or storage (has power and restroom) , has land adjacent for room for expansion (included in Sale). Center road, with new street lights, and rear security lighting.
New /Fresh blacktop (Laid in August 14')
Sewer Treatment 'On Site'
Individual water meters

THE "STREET VIEW" ON Google is outdated / old. Before we owned.

*Would consider 30% down, 6.5% rate, 20yr AM

We are adding units at any time, price/ may vary for additional Rentals.

Lot Rents = Min $165 (in process of Going to $175. as leases renew) Rented Homes= $550-750

Location

Area is rural, on outskirts of city. There is Plenty of land that is available for expansion on either side of the park property.

Options: WE would consider selling all or part. ie..The park which includes extra land on the East side (approx. 4 acres), or The park and enough land to the WEst side to replicate/double the park, or The park and all 30 additional acres.
Park is currently being managed by Management company. It is optional to you to retain them or manage on your own.

The STREET VIEW on Google Maps is outdated. Old pic.

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