Mobile Home Park Details

  • Purchase Method: New Loan
  • Cap Rate: 11.8%
  • Listing ID: 516389
  • Posted On: Apr 8, 2015
  • Updated On: Feb 4, 2016

Description

This 1970s built MHP consists of 73 rental mobile homes. The community is situated on approximately 7.61 acres on US1. Last year the owner claims to have spent over $300,000 in capital improvements including 10 homes to fill vacant sites. As of April 2015 the park is100 percent occupied. The homes in the community are well cared for and most have been recently renovated. The park is serviced by an WWTP and a private well.

Amenities

  • Laundromat
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Park Information

Community Type: All Age
Number of MH Lots: 73
Total Occupancy: 100.0 %
Year Built: 1970
Average MH Lot Rent: $611
Size: 8 acre(s)

Financial Information (Actual)

Gross Income: $499
Operating Expense: $240
Net Operating Income: $258
Expense Ratio: 48.1 %
Debt Info: New Loan Required

Lot Information

Singlewide Lots: 67

RV Information

Number of RV Lots: 6
Average RV Lot Rent: $580

Utility Information

Water: Well
Water Paid By: Park
Sewer: Treatment Plant

Park-Owned Homes

Number of Park-owned Homes: 73
Average Rent for Park-owned Homes: $608

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