Mobile Home Park Details
- Purchase Method: New Loan
- Land: This is land for developing a mobile home park
- Cap Rate: 10.5%
- Listing ID: 499433
- Posted On: Dec 29, 2014
- Updated On: Apr 3, 2015
Description
Nice park located in town. Has 119 lots with one stick built home,has on sight office\shop and 40x60 two story warehouse. Off street parking, city water and sewer.Located on 17 acres. Park has 55 home owner lots and 43 park owned homes.Avg. rent is 450 and lot rent is 175.No lot rent increase for years. Park has a lot of upside potential. Seller is motivated.
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Park Information
| Community Type: | All Age |
| Number of MH Lots: | 119 |
| Total Occupancy: | 85.0 % |
| Year Built: | 70 |
| Average MH Lot Rent: | $175 |
| Size: | 17 acre(s) |
Financial Information (Actual)
| Gross Income: | $300,000 |
| Operating Expense: | $100,000 |
| Net Operating Income: | $200,000 |
| Expense Ratio: | 33.3 % |
Lot Information
| Singlewide Lots: | 119 |
| Triplewide Lots: | 0 |
| Park Model Lots: | 0 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Individual Service |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 43 |
| Average Rent for Park-owned Homes: | $450 |
