Mobile Home Park Details
- Purchase Method: Cash
- Cap Rate: 9.5%
- Listing ID: 653495
- Posted On: Apr 8, 2016
- Updated On: Jun 23, 2016
Description
THIS PARK IS A MAJOR FIX UP!!! It is going to take an experienced owner, operator and renovator to tackle this opportunity. You are dealing with orangeburg sewer, galvanized plumbing, the one saving grace is the electrical, which is not bad. Fortunately there are no rental homes or rent to own contracts in place HOWEVER there are 9 mobiles that have been abandoned +18 vacant sites placing the vacancy factor at 40%. Most of the sites can handle larger homes (14 X 65). The owner is as tuff as they come and at 85 years old wants all cash. There is no way ANY lender will let a loan on this beauty in it's current state!!!
THIS PARK IS A JOB NOT AN INVESTMENT FOR THE FIRST 12 TO 24 MONTHS OF OWNERSHIP!!!!
Amenities
- Club House
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Park Information
Community Type: | All Age |
Number of MH Lots: | 69 |
Size: | 4 acre(s) |
Utility Information
Water: | City |
Water Paid By: | Park |
Sewer: | City |