Mobile Home Park Details
- Purchase Method: Cash, Seller Financing
- Cap Rate: 16.0%
- Listing ID: 458771
- Posted On: Jul 14, 2014
- Updated On: Aug 25, 2014
Description
This is a 14 space MHP on 1.3 acres (mol) located in a residential area of Huntingdon, TN. Consisting of 11 park owned homes, 1 lot rental and 2 vacant spaces that are ready for homes. The 11 homes are mostly 2 BR. And some 3BR. The entire park is on city water and sewer with each space separately metered for water and electricity. Each lot has 200 amp service. Tenants pay all of their own utilities. Owner does not provide A.C.’s or refrigerators to tenants. There is an on site manager. Current rents are below market. There is a Wal Mart within walking distance and only one mile to the Huntingdon business district. Major highways 22 and I-40 are very close
20% down 7%int. amortized for 20 yrs. Balloon in 2 years.
Location
Interested in purchasing this mobile home park? Get pre-qualified for a loan.
Park Information
Community Type: | All Age |
Number of MH Lots: | 14 |
Total Occupancy: | 85.0 % |
Year Built: | 1970 |
Average MH Lot Rent: | $275 |
Size: | 1 acre(s) |
Financial Information (Actual)
Gross Income: | $31,800 |
Operating Expense: | $9,420 |
Net Operating Income: | $22,380 |
Expense Ratio: | 29.6 % |
Lot Information
Singlewide Lots: | 14 |
Utility Information
Water: | City |
Water Paid By: | Tenant - Individual Service |
Sewer: | City |
Park-Owned Homes
Number of Park-owned Homes: | 11 |
Average Rent for Park-owned Homes: | $275 |