Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 10.0%
- Listing ID: 519028
- Posted On: Apr 27, 2015
- Updated On: Aug 17, 2015
Description
This mobile home community is a 71 space park that features paved roads, septic tank systems, and well water. The park has 21 rent to own homes and 14 park owned along with over 30 lot rentals. The park is priced with idea that the lot rent is well below market and can be increased by the new owner to maximize return on this investment.
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Park Information
| Community Type: | All Age |
| Number of MH Lots: | 71 |
| Total Occupancy: | 80.0 % |
| Year Built: | 1990 |
| Average MH Lot Rent: | $145 |
| Size: | 21 acre(s) |
Financial Information (Actual)
| Gross Income: | $1,700,000 |
| Operating Expense: | $60,000 |
| Expense Ratio: | 3.5 % |
Lot Information
| Singlewide Lots: | 71 |
Utility Information
| Water: | Well |
| Water Paid By: | Park |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 33 |
| Average Rent for Park-owned Homes: | $350 |
