Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 8.3%
  • Listing ID: 6677276
  • Posted On: Jul 25, 2024
  • Updated On: Oct 25, 2024

Description

10 acres, very quiet park, 16 lots,, 10 park owned homes, 3 are vacant, 6 tenant owned. 7 park owned are rented @ $770 per month. after being remodeled. Lot rent is $250.All have vinyl siding, new metal roofs, covered decks, new kitchens and bathrooms, ceiling fans , mini split AC& heat pumps, laminate flooring, tiled showers, stainless steel appliances . We do complete background checks, almost no crime, some tenants have been here 9-15 years.. We have never advertised, in fact we don't even have a road sign. all new tenants have come from tenant referrals. the 3 vacant homes can be remodeled or replaced as they all have water, sewer, and electric connected. It is not in flood zone. Property being sold as-is , which includes a shed full of electrical tools and a 54 " zero turn lawnmower. Great park for someone willing to work one day per week. Owner retiring.

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Park Information

Community Type: All Age
Number of MH Lots: 16
Total Occupancy: 81.0 %
Year Built: 19851990
Average MH Lot Rent: $770
Size: 10 acre(s)

Financial Information (Actual)

Gross Income: $84,000
Operating Expense: $12,460
Net Operating Income: $71,540
Expense Ratio: 14.8 %

Lot Information

Singlewide Lots: 15
Doublewide Lots: 1

Utility Information

Water: City
Water Paid By: Tenant - Individual Service
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 10
Average Rent for Park-owned Homes: $770

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