Mobile Home Park Details
- Purchase Method: Cash, Seller Financing, New Loan
- Cap Rate: 15.0%
- Listing ID: 470400
- Posted On: Sep 11, 2014
- Updated On: Jun 16, 2015
Description
Cash-on-cash return (pro forma) is OVER 30%! Price is based on actual cash flow at a 15 cap. Data shown is based on pro forma assuming rehab on empty units. For actual 2015 data see our listing on LoopNet. Park is 2.5 acres. 45 mobile homes and 3 concrete block homes and 2 empty spaces. Plenty of upside for buyer. The houses are 1, 2, and 3- bedroom. About half the mobiles have more than one bedroom. I will do 50% financing with half down. We split closing costs 50/50 unless you use a broker or lawyer; that's on you.
Amenities
- Laundromat
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Park Information
Community Type: | All Age |
Number of MH Lots: | 50 |
Total Occupancy: | 90.0 % |
Year Built: | 1962 |
Average MH Lot Rent: | $665 |
Size: | 3 acre(s) |
Financial Information (Pro Forma)
Gross Income: | $329,674 |
Operating Expense: | $53,118 |
Net Operating Income: | $276,556 |
Expense Ratio: | 16.1 % |
Debt Info: | Mortgage not assumable |
Lot Information
Singlewide Lots: | 45 |
Utility Information
Water: | City |
Water Paid By: | Park |
Sewer: | Septic |
Park-Owned Homes
Number of Park-owned Homes: | 42 |
Average Rent for Park-owned Homes: | $600 |