Mobile Home Park Details
- Cap Rate: 7.9%
- Listing ID: 654855
- Posted On: Apr 12, 2016
- Updated On: Aug 11, 2016
Description
A Class A* Mobile Home Park located in the growing metropolitan market. The 140+ park is situated on 29+ acres just off a major artery. Outstanding in every aspect, the park is maintained meticulously with strict tenant rules to preserve quality.
The Mobile Home Park Features:
• Public Roads
• Public Utilities
• 95% Occupancy
• Management in Place
• Land for additional expansion
• Commercial building with outside secure storage
• 20 Seller Owned Homes that convey with sale
A great opportunity to purchase a remarkable business that provides an exceptional potential for expansion. The owner is not active in the business. The reason for sale is retirement.
Upon proper qualification of the potential acquirer, including the customary exchange of financial information and confidentiality agreements, a detailed Confidential Prospectus will be provided. All inquiries will be held in strictest confidence.
Purchase Price: $4,950,000
Gross Revenues: $582,824
Net Operating Income: $ 390,940 (Cap Rate 7.9%)
FF&E: $310,000 (included in asking price)
Real Estate: (included in asking price)
*Class A per Woodall Rating Guide
Park Information
Number of MH Lots: | 142 |
Total Occupancy: | 95.0 % |
Size: | 29 acre(s) |
Financial Information (Actual)
Gross Income: | $582,824 |
Net Operating Income: | $390,940 |
Utility Information
Water: | City |
Water Paid By: | Tenant - Individual Service |
Sewer: | City |