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 |