Contact Information
Benny Spensieri
CRES Corp International, LLC
CRES Corp International, LLC
Mobile Home Park Details
- Price: $1,200,000
- Purchase Method: Cash, Seller Financing
- Listing ID: 6683294
- Posted On: Aug 3, 2024
- Updated On: Aug 10, 2024
Description
This well-established MHP offers a turn-key operation producing a significant income and return for the new buyer. At asking price, the cap rate is very close to 10%.
This park include:
• 2.87-Acres MOL
• 13-Spaces & 10 MH Units
• City Water & Septic
• Individual Electric Meters
• Individual Septic Tanks
• All Tenants on Lease-To-Own Leases
• Current Occupancy: 100%
• Current Gross Revenue: $154,788
• Current NOI: $129,414
Asking Price: $1.2M Or Best Offer
Seller Financing: Seller Financing Available to Qualified Purchaser, that may include:
• 40%-50% Down Payment
• 5%-6% Interest Rate
• Interest Only or Amortized
• 5-10-Year Balloon
Interested in purchasing this mobile home park? Get pre-qualified for a loan.
Park Information
| Number of MH Lots: | 13 |
| Total Occupancy: | 100.0 % |
| Year Built: | 1967 |
| Size: | 1 acre(s) |
Financial Information (Actual)
| Gross Income: | $154,788 |
| Operating Expense: | $25,374 |
| Net Operating Income: | $129,414 |
| Expense Ratio: | 16.4 % |
Lot Information
| Singlewide Lots: | 13 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Individual Service |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 13 |
| Average Rent for Park-owned Homes: | $1,100 |
Download Documents
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