Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 8.0%
- Listing ID: 519066
- Posted On: Apr 28, 2015
- Updated On: Aug 17, 2015
Description
A 26 space park with a stick built home and single level apartment on City water/sewer. An easy to run park primarily singlewide older mobiles in Reedsport. Expenses are low as there are no common areas to maintain except the roads. Part of the sewer/water charges are paid by the park tenants. Rent is $350 a month with $500-$600 month for the 4 park owned rental homes plus $800 for the stick-built house. excellent upside growth for rents and in filling 3-4 vacancies. Motivated Out Of State Sellers.
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Park Information
Number of MH Lots: | 26 |
Total Occupancy: | 90.0 % |
Year Built: | 0 |
Average MH Lot Rent: | $350 |
Size: | 2 acre(s) |
Financial Information (Actual)
Gross Income: | $133,432 |
Operating Expense: | $81,428 |
Net Operating Income: | $52 |
Expense Ratio: | 61.0 % |
Debt Info: | - |
Lot Information
Singlewide Lots: | 29 |
Doublewide Lots: | 1 |
Triplewide Lots: | 0 |
Park Model Lots: | 0 |
Utility Information
Water: | City |
Water Paid By: | Park |
Sewer: | City |
Park-Owned Homes
Number of Park-owned Homes: | 4 |
Average Rent for Park-owned Homes: | $550 |