Defiance Mobile Home Park
Mobile Home Park Details
- Purchase Method: Cash
- Land: This is land for developing a mobile home park
- Cap Rate: 10.0%
- Listing ID: 568709
- Posted On: Sep 10, 2015
- Updated On: May 17, 2016
Description
This MHP has 24 lots on 3.09 acres. It can expand to 66 lots on the remaining 12.54 acres for a total of 90 lots. There is also a 750 sq ft. duplex on the property It has individually metered city water and city sewer. It is just east of the future US-24/Ohio-424 interchange. This park has lots of upside potential.
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Park Information
| Community Type: | All Age |
| Number of MH Lots: | 24 |
| Total Occupancy: | 80.0 % |
| Year Built: | 1969 |
| Average MH Lot Rent: | $250 |
| Size: | 15 acre(s) |
Financial Information (Pro Forma)
| Gross Income: | $60,000 |
| Operating Expense: | $42,000 |
| Net Operating Income: | $18,000 |
| Expense Ratio: | 70.0 % |
Lot Information
| Singlewide Lots: | 24 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Submetered |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 8 |
| Average Rent for Park-owned Homes: | $250 |