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Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 9.0%
  • Listing ID: 484834
  • Posted On: Nov 18, 2014
  • Updated On: Feb 2, 2015

Description

FOR SALE BY OWNER: 83 pad all ages park just east of Houston. Currently 2 vacant pads, with historically high occupancy. No park owned homes. Paved streets. City water and city sewer. Tenants reimburse for trash and utils. This well maintained family park is a cash cow! The present owners are selling due to advanced age and health problems. NOTE: I am one of the owners of this park, and I have a valid real estate license. I am acting as a principal and not as a broker.

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Park Information

Community Type: All Age
Number of MH Lots: 83
Total Occupancy: 96.0 %
Year Built: 1970
Average MH Lot Rent: $235
Size: 6 acre(s)

Financial Information (Pro Forma)

Gross Income: $261,323
Operating Expense: $113,263
Net Operating Income: $148,060
Expense Ratio: 43.3 %
Debt Info: New loan required

Lot Information

Singlewide Lots: 83

RV Information

Number of RV Lots: 0

Utility Information

Water: City
Water Paid By: Tenant - RUBs
Sewer: City

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