Mobile Home Park Details
- Purchase Method: New Loan
- Cap Rate: 7.0%
- Listing ID: 544255
- Posted On: Jun 28, 2015
- Updated On: Jan 27, 2016
Description
> 55 Total Pads each serviced with City Water/Sewer
> Natural Gas - Hydro - Shaw Cable - Telus
> Each pad has off-street parking for at least 2 vehichles. > Park roads are paved
> Mature landscaping throughout the park in common areas and each lot.
> Park has been run remotely from Kelowna by the current owners with zero bad debt or collection issues (12 post dated cheques 90% and direct deposit for the balance).
> 100% Occupancy
> 90 % of Occupants are 50+ - Majority of tenants retired
> 47 Lots - Owner Occupied / Pad Rent
> 6 Park Owned Homes Rented (Included)
> 2 Park Owned Homes Under Contract (Included)
> Contracted Snow Removal/Lawn Care in place
> 2 years ongoing management included in the Offering Price
Property is approximately 6 Acres with nearly 600 feet of River Frontage. It is well located adjacent to the popular River Front Trail system and walking distance to downtown Quesnel. A short 3 minute drive to the Quesnel Golf Course.
Park Information
Community Type: | 55 And Over |
Number of MH Lots: | 55 |
Total Occupancy: | 100.0 % |
Year Built: | 1974 |
Average MH Lot Rent: | $273 |
Size: | 6 acre(s) |
Financial Information (Actual)
Gross Income: | $218,604 |
Operating Expense: | $47,953 |
Net Operating Income: | $170,651 |
Expense Ratio: | 21.9 % |
Lot Information
Singlewide Lots: | 54 |
Doublewide Lots: | 1 |
Utility Information
Water: | City |
Water Paid By: | Park |
Sewer: | City |
Park-Owned Homes
Number of Park-owned Homes: | 6 |
Average Rent for Park-owned Homes: | $750 |