Mobile Home Park Details

  • Purchase Method: Cash
  • Cap Rate: 11.0%
  • Listing ID: 538503
  • Posted On: Jun 3, 2015
  • Updated On: Jun 13, 2015

Description

This is a 36 space mobile home park located in Comanche TX. The park is on city water and sewer. The city bills residents directly for water/sewer and own the park roads as well. This park also has 14 storage units on property rented at $25 a month and have 7 occupied. Of the 36 MH total lots, there are 4 park owned homes (3 vacant park owned homes) and 9 resident owned homes. The monthly lot rent is $125 and park owned homes are rented at $450 per month. These low rental rates, even for the area, provide significant room for rental rates increases.

Amenities

  • Storage
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Park Information

Number of MH Lots: 36
Total Occupancy: 36.0 %
Average MH Lot Rent: $125
Size: 5 acre(s)

Financial Information (Actual)

Gross Income: $18
Operating Expense: $5
Net Operating Income: $13
Expense Ratio: 27.8 %

Lot Information

Singlewide Lots: 36

Utility Information

Water: City
Water Paid By: Tenant - Individual Service
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 4
Average Rent for Park-owned Homes: $450