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Mobile Home Park Details
- Cap Rate: 7.1%
- Listing ID: 666968
- Posted On: May 18, 2016
- Updated On: Apr 9, 2018
Description
39-space Mobile Home Park: 18 park-owned MHs (5 of which are vacant); 6 tenant-owned MHs; 15 vacant spaces. All utilities direct-billed to tenants. Tons of upside here, starting with those 5 vacant park-owned units. 3 are rent-ready, the other 2 need minor repairs. Fixing & renting these 5 units bring the proforma Cap Rate up to 10.7%. We're running it now and can continue to do so for the new owner.
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Park Information
| Community Type: | All Age |
| Number of MH Lots: | 39 |
Financial Information (Actual)
| Gross Income: | $55,500 |
| Operating Expense: | $20,212 |
| Net Operating Income: | $35,287 |
| Expense Ratio: | 36.4 % |
Lot Information
| Doublewide Lots: | 39 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Individual Service |
| Sewer: | City |
