Mobile Home Park Details

  • Purchase Method: New Loan
  • Cap Rate: 9.0%
  • Listing ID: 473264
  • Posted On: Oct 1, 2014
  • Updated On: Oct 15, 2015

Description

18 total lots in a lot rent only community on 9.3 acres. Park streets are paved. Park Manager on site. Renters pay on time. Lot rent is $230 per lot per month. The Park is 30 years old, stable and stays fully occupied. It is serviced by its own well system and individual septic systems for each lot. In addition to the 18 lots, the Park includes a Duplex, in which each side is 1100 SQ Ft. for a total of 2200 Sq Ft. Each side has 3 bedrooms/2 Baths. The rent for the Duplex is $685/$750. The Duplex was built in 2001. 12 months trailing income from the Park is $64140 minus expenses $14,504 netting $49,636. Asking price $551,000 Cap Rate-9%.

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Park Information

Community Type: All Age
Number of MH Lots: 18
Total Occupancy: 100.0 %
Year Built: 1981
Average MH Lot Rent: $230
Size: 9 acre(s)

Financial Information (Actual)

Gross Income: $64,140
Operating Expense: $14,504
Net Operating Income: $49,636
Expense Ratio: 22.6 %

Utility Information

Water: Well
Sewer: Septic

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