Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 5.5%
- Listing ID: 685328
- Posted On: Jul 7, 2016
- Updated On: Nov 2, 2017
Description
The Palms Mobile Estates and Storage is a 98-site mobile home park built in or about the 1970's and is situated on approximately 9.32 acres. Gas and electric are directly billed and paid by the residents. Water, trash and septic is paid by the landlord. The Palms includes an office, clubhouse, swimming pool and a laundry room. There are currently 22 vacant spaces and 6 park owned homes.
Location
The Palms is located in the city of Hemet, in Riverside County.
Amenities
- Laundromat
- Pool
- Club House
- Storage
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Park Information
Community Type: | 55 And Over |
Number of MH Lots: | 98 |
Total Occupancy: | 70.0 % |
Year Built: | 1970 |
Average MH Lot Rent: | $362 |
Size: | 9 acre(s) |
Financial Information (Actual)
Net Operating Income: | $205,189 |
Lot Information
Doublewide Lots: | 98 |
Utility Information
Water: | City |
Water Paid By: | Park |
Sewer: | Septic |
Park-Owned Homes
Number of Park-owned Homes: | 6 |
Average Rent for Park-owned Homes: | $410 |