Mobile Home Park Details
- Purchase Method: New Loan
- Cap Rate: 11.1%
- Listing ID: 503765
- Posted On: Jan 16, 2015
- Updated On: Jun 15, 2015
Description
This is a senior community of 45 sites. 29 are park owned homes many of which have been leased by the same resident for many years. There are 8 site rental homes and 8 vacant sites. The park is serviced by a WWTP for sewage and a private well. Home rents range from $450 to $601.
Location
The community is located about a 10 minute drive from I4 making eats-west travel convenient. Rt98 is also a few minutes away giving close access to the Lakeland Mall, restaurants and shopping.
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Park Information
| Community Type: | 55 And Over |
| Number of MH Lots: | 45 |
| Total Occupancy: | 82.0 % |
| Year Built: | 1970 |
| Average MH Lot Rent: | $485 |
| Size: | 4 acre(s) |
Financial Information (Pro Forma)
| Gross Income: | $182,668 |
| Operating Expense: | $71,808 |
| Net Operating Income: | $110,860 |
| Expense Ratio: | 39.3 % |
| Debt Info: | 75% LTV, 5.5%, 25 year amort. |
Utility Information
| Water: | Well |
| Water Paid By: | Park |
| Sewer: | Treatment Plant |
Park-Owned Homes
| Number of Park-owned Homes: | 29 |
| Average Rent for Park-owned Homes: | $485 |
