Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park

Mobile Home Park Details

  • Purchase Method: Cash, Seller Financing
  • Cap Rate: 10.0%
  • Listing ID: 543985
  • Posted On: Jun 24, 2015
  • Updated On: Aug 22, 2018

Description

The Park consists of 38 existing pads, and is license with the State of Maine for 38 sites. There are 12 +/- acres, and the Town owns & maintains the roads, and water and sewer are all individually metered and are billed directly to the tenants from the water & sewer department. There is a 28x120 Storage Building with 10 bays, and 9 are rented at $65.00 per month, and the owner utilizes one of them.  There are 9 vacant pads that could be rented for potential future revenue of $14,880.00 annually. The owner will be increasing the park rents to $10.00 per month starting January 1, 2016. The park pads in Millinocket supports $155.00 per month so even at $145.00 he is below market rents.

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Park Information

Community Type: All Age
Number of MH Lots: 38
Total Occupancy: 66.0 %
Size: 12 acre(s)

Financial Information (Actual)

Gross Income: $55,620
Operating Expense: $6,833
Net Operating Income: $48,787
Expense Ratio: 12.3 %

RV Information

Average RV Lot Rent: $135

Utility Information

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

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