Mobile Home Park Details
- Purchase Method: New Loan
- Cap Rate: 10.0%
- Listing ID: 508561
- Posted On: Feb 12, 2015
- Updated On: Feb 15, 2016
Description
Meadowview Mobile Home Park is 71 sites, West Wind Mobile Home Park is 17 sites, and West Wind Mini Storage is 57 storage spaces, all offered as a package and located in Lancaster, WI.
This is a rare opportunity to invest in a steady, predictable Net Income stream.
Highlights include:
Both parks:
• City bills residents for water, sewer and garbage.
• Streets are hard surface and are dedicated
to the city, which does repairs, maintenance
and removes the snow at no cost to the
owner.
• These properties are not in a flood plain.
Meadowview MHP (lot rent $235 - $245 as of 4/1/15):
• 71 mobile home sites.
• 29 occupied sites, 42 vacant sites.
• NO park owned homes.
• City water, city sewer.
• Onsite management.
West Wind MHP (lot rent $227 as of 4/1/15):
• 17 mobile home sites.
• 6 occupied sites, 11 vacant sites.
• NO park owned homes.
• City water, city sewer.
• Onsite management.
• Manager of West Wind MHP also manages West Wind Mini Storage.
Park Information
Number of MH Lots: | 88 |
Total Occupancy: | 60.0 % |
Average MH Lot Rent: | $229 |
Financial Information (Actual)
Gross Income: | $120,144 |
Operating Expense: | $48,552 |
Net Operating Income: | $71,592 |
Expense Ratio: | 40.4 % |