Subject relative to Havelock/New Bern
Mobile Home Park Details
- Purchase Method: Cash
- Cap Rate: 9.0%
- Listing ID: 477148
- Posted On: Oct 14, 2014
- Updated On: Nov 24, 2015
Description
Mobile Home Park and other rental units. Three parcel combo over 8 acres. Great income producing property with potential for expanded mobile home unit rentals, additional income, and property appreciation. Cap Rate of 9%.and more with expansion. No vacancy. Currently 5 apartments, 5 park owned mobile homes and 5 mobile homes/spaces. Room to add 8-12 MH spaces and opportunity acquire 6 additional off market contiguous spaces.
Location
Strategically positioned between Havelock (home to Cherry Point Marine Corp Air Station) and New Bern. Constant demands for rentals. Just off US Hwy 70.
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Park Information
| Community Type: | All Age |
| Number of MH Lots: | 15 |
| Total Occupancy: | 100.0 % |
| Size: | 8 acre(s) |
Financial Information (Pro Forma)
| Gross Income: | $77,640 |
| Operating Expense: | $20,139 |
| Net Operating Income: | $57,501 |
| Expense Ratio: | 25.9 % |
Lot Information
| Singlewide Lots: | 10 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Individual Service |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 5 |
| Average Rent for Park-owned Homes: | $370 |