Mobile Home Park Details
- Purchase Method: Seller Financing
- Listing ID: 5308974
- Posted On: Apr 16, 2024
- Updated On: Oct 3, 2024
Description
Property Highlights:
Mobile home park with 24 lots
26.4 acres of land
23 mobile homes occupied, 1 vacant lot
18 homes are tenant owned, 5 are park owned
Current lot rent is $384-$392 per month
Park home rent is $750 per month
Seller financing terms:
$850K Purchase Price
$250K down
5% interest rate
20 year amortization,
NO balloon!!!
Seller has owned for 40 years
Financials:
Gross Rents: $127,944.00
18 tenants paying lot rent at $384 each
5 tenants renting trailers at $750 each
Lot Information:
24 legally zoned lots
24 lots with infrastructure/pickups
1 vacant lot
Building Information:
23 mobile homes
All single wides
5 park owned
18 tenant owned
No vacant homes
Utility Information:
Water: City, included in rent
Sewer: Septic (2 tanks, 2 leech fields)
Electric: Separate meters/ directly billed to tenants.
Trash: Private pickup
Gas: Separate meters
Well water for park area
HUGE ROOM FOR EXPANSION!!!
Email me your First and last name and i will email you an NDA to get the ball rolling!
Location
Upstate New York!
Park Information
| Number of MH Lots: | 24 |
| Total Occupancy: | 95.0 % |
| Average MH Lot Rent: | $384 |
| Size: | 26 acre(s) |
Financial Information (Actual)
| Gross Income: | $127,944 |
| Operating Expense: | $50,000 |
| Net Operating Income: | $77,944 |
| Expense Ratio: | 39.1 % |
Lot Information
| Singlewide Lots: | 23 |
| Doublewide Lots: | 0 |
| Triplewide Lots: | 0 |
Utility Information
| Water: | City |
| Water Paid By: | Park |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 5 |
| Average Rent for Park-owned Homes: | $750 |
