Mobile Home Park Details
- Cap Rate: 11.9%
- Listing ID: 6200598
- Posted On: Jun 11, 2024
- Updated On: Oct 16, 2024
Description
This manufactured housing portfolio features strong rental demand, a solid track record of occupancy and historically stable cash flow.
The 1.95-acre site currently accommodates a total of 13 manufactured homes (1 double wide home; 12 single wide homes) - all PARK OWNED with titles to most. The occupancy is at 100% with an average monthly rent of $640.00 (inclusive of lot and mobile home rent).
The property is equipped with public water, private and individual sewer systems, central HVAC (ALL NEW units under 2 yrs old, with 10 yr warranties by Heil & Goodman), separately metered electricity, and dusk to dawn lights.
Location
Located in Henry County within the Martinsville MSA.
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Park Information
Community Type: | All Age |
Number of MH Lots: | 13 |
Total Occupancy: | 100.0 % |
Size: | 2 acre(s) |
Financial Information (Actual)
Gross Income: | $99,900 |
Operating Expense: | $16,962 |
Net Operating Income: | $82,963 |
Expense Ratio: | 17.0 % |
Lot Information
Singlewide Lots: | 12 |
Doublewide Lots: | 1 |
Utility Information
Water: | City |
Water Paid By: | Park |