Mobile Home Park Details
- Purchase Method: Cash
- Cap Rate: 12.0%
- Listing ID: 574655
- Posted On: Oct 21, 2015
- Updated On: Dec 27, 2017
Description
Fully Occupied park with long term tenants. Excellent controls on water usage and carefully maintained with an onsite manager. Located in a quiet and safe neighborhood with easy access to shopping and public transportation.
Room for park expansion and location makes it suitable for higher use such as a motel or retail.
Amenities
- Laundromat
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Park Information
Community Type: | All Age |
Number of MH Lots: | 28 |
Total Occupancy: | 100.0 % |
Year Built: | 1950 |
Average MH Lot Rent: | $390 |
Size: | 3 acre(s) |
Financial Information (Actual)
Gross Income: | $131,000 |
Operating Expense: | $47,570 |
Net Operating Income: | $83,430 |
Expense Ratio: | 36.3 % |
Lot Information
Singlewide Lots: | 28 |
Utility Information
Water: | City |
Water Paid By: | Park |
Sewer: | City |
Park-Owned Homes
Number of Park-owned Homes: | 25 |
Average Rent for Park-owned Homes: | $389 |