Mobile Home Park Details
- Purchase Method: Cash
- Cap Rate: 11.0%
- Listing ID: 543968
- Posted On: Jun 24, 2015
- Updated On: Aug 22, 2018
Description
The Park is a 55 and older park making it very attractive for a retirement community that is very affordable. The Park consists of 8 existing pads, and is license with the State of Maine for 8 sites. There are 5.64 acres, and has Public Water and Public Sewer. The owner owns 5 of the homes, and the existing Revenue is $43,260.00 and Expenses are $17,981.34 The rents are extremely low and potential income should be increased immediately by $3,300.00 more per year. NO VACANCIES
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Park Information
Community Type: | 55 And Over |
Number of MH Lots: | 8 |
Total Occupancy: | 100.0 % |
Size: | 6 acre(s) |
Financial Information (Actual)
Gross Income: | $43,260 |
Operating Expense: | $17,981 |
Net Operating Income: | $25,278 |
Expense Ratio: | 41.6 % |
Lot Information
Singlewide Lots: | 8 |
Utility Information
Water: | City |
Water Paid By: | Park |
Sewer: | City |
Park-Owned Homes
Number of Park-owned Homes: | 5 |
Average Rent for Park-owned Homes: | $550 |