Photo of Mobile Home Park
Mobile Home Park Details
- Purchase Method: Cash, Seller Financing, New Loan, Assumable Loan
- Cap Rate: 11.0%
- Listing ID: 570890
- Posted On: Sep 24, 2015
- Updated On: Nov 30, 2015
Description
34 lots on site
5.96 acres
City water and sewer
Electric to code
Gravel roads
Grove City Schools
13 current rentals
On site manager
Currently break-even
Great potential with active management. This investment has not been marketed for several years and could easily provide a 10% or better CAP rate with some marketing.
Location
Located near major freeways in the Southwest Columbus area, this park is close to shopping and convenient to many business locations. School system is very good.
Amenities
- Laundromat
Interested in purchasing this mobile home park? Get pre-qualified for a loan.
Park Information
| Number of MH Lots: | 34 |
| Total Occupancy: | 38.0 % |
| Year Built: | 1970 |
| Average MH Lot Rent: | $425 |
| Size: | 6 acre(s) |
Financial Information (Pro Forma)
| Gross Income: | $70,487 |
| Operating Expense: | $39,125 |
| Net Operating Income: | $31,362 |
| Expense Ratio: | 55.5 % |
Lot Information
| Singlewide Lots: | 34 |
| Doublewide Lots: | 0 |
| Triplewide Lots: | 0 |
| Park Model Lots: | 0 |
RV Information
| Number of RV Lots: | 0 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Individual Service |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 10 |
| Average Rent for Park-owned Homes: | $450 |