Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 7.3%
- Listing ID: 547317
- Posted On: Jul 14, 2015
- Updated On: Feb 2, 2016
Description
42 mobile home pads with 6 park owned rentals, plus 8 apartments, for a total of 50 units. City water and sewer, paved road in good condition. Lot's of mature trees on site. The apartments are freshly painted, as are the roadways, and there is new signage. Here is your chance to buy an affordable, neat and clean all ages park in one of the hottest rental markets in the US! On the busline and close to shopping. Park pays all utilities; there is the opportunity to pass them along to the tenants to increase cash flow. Call for a complete package!
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Park Information
Community Type: | All Age |
Number of MH Lots: | 42 |
Total Occupancy: | 92.0 % |
Year Built: | 1929 |
Average MH Lot Rent: | $475 |
Size: | 2 acre(s) |
Financial Information (Pro Forma)
Gross Income: | $303,290 |
Operating Expense: | $152,993 |
Net Operating Income: | $150,297 |
Expense Ratio: | 50.4 % |
Debt Info: | New Loan Required |
Lot Information
Singlewide Lots: | 42 |
Utility Information
Water: | City |
Water Paid By: | Park |
Sewer: | City |