Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Mobile Home Park Details
- Cap Rate: 7.5%
- Listing ID: 686563
- Posted On: Jul 12, 2016
- Updated On: Jul 17, 2017
Description
Midway Mobile Home Park is projected to produce an noi of $136,000 over the next year making for a CAP Rate of 7.5%. This is a quiet, well established residential community along Highway 71B.
The park is comprised of 42 mh lots with 41 owned homes. This mobile home property was grandfathered into a zoning that you cannot get within several miles. For this reason, year after year, Midway occupies all 42 mobile home lots.
Interested in purchasing this mobile home park? Get pre-qualified for a loan.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 42 |
| Total Occupancy: | 100.0 % |
| Average MH Lot Rent: | $500 |
| Size: | 5 acre(s) |
Financial Information (Actual)
| Gross Income: | $297,000 |
| Operating Expense: | $160,700 |
| Net Operating Income: | $136,300 |
| Expense Ratio: | 54.1 % |
Lot Information
| Singlewide Lots: | 42 |
Utility Information
| Water: | City |
| Water Paid By: | Park |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 41 |
| Average Rent for Park-owned Homes: | $500 |