Mobile Home Park Details
- Purchase Method: Cash
- Cap Rate: 11.0%
- Listing ID: 555466
- Posted On: Aug 23, 2015
- Updated On: May 6, 2016
Description
A 4 unit Mobile Home Park with one vacant pad. There are 3 owned homes that are being rented. Perfect small park for a starter investor. Public water and Sewer. Tenants pay their own heat and electricity. Total Income is $20,940.00, and Total Expenses are $7,388.15, and supports a Cap Rate of 11%. There are 2 of the units that should have a rent increase, and if someone added a home to the vacant pad you could increase your income by $10,000.00 per year. Great Investment!
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Park Information
Community Type: | All Age |
Number of MH Lots: | 4 |
Total Occupancy: | 75.0 % |
Year Built: | 1970 |
Average MH Lot Rent: | $550 |
Size: | 1 acre(s) |
Financial Information
Gross Income: | $20,940 |
Operating Expense: | $7,388 |
Net Operating Income: | $13,551 |
Expense Ratio: | 35.3 % |
Lot Information
Singlewide Lots: | 4 |
Doublewide Lots: | 0 |
Triplewide Lots: | 0 |
Park Model Lots: | 0 |
RV Information
Number of RV Lots: | 0 |
Average RV Lot Rent: | $0 |
Utility Information
Water: | City |
Water Paid By: | Park |
Sewer: | City |
Park-Owned Homes
Number of Park-owned Homes: | 3 |
Average Rent for Park-owned Homes: | $550 |