Mobile Home Park Details
- Cap Rate: 9.0%
- Listing ID: 687835
- Posted On: Jul 15, 2016
- Updated On: Feb 17, 2017
Description
Full MHP with upswing and a waiting list to get in. 19 mobile homes, 2 RV sites, 2 duplexes and a single family house. Rents of 5 units are approximately $150 low for the market. Onsite manager gets free rent in the only park owned home. City water, Engineered septic system just a few years ago. Large shop rented out for $300/month. The tenants are long term and rents are a bit below market. Over 14% Cash return on investment. Bank financing available with 30% down payment.
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Park Information
Community Type: | All Age |
Number of MH Lots: | 26 |
Total Occupancy: | 100.0 % |
Average MH Lot Rent: | $370 |
Size: | 4 acre(s) |
Financial Information (Actual)
Gross Income: | $119,635 |
Operating Expense: | $88 |
Net Operating Income: | $88 |
Expense Ratio: | 0.1 % |
Debt Info: | New needed |
Lot Information
Singlewide Lots: | 23 |
Doublewide Lots: | 1 |
RV Information
Number of RV Lots: | 2 |
Average RV Lot Rent: | $355 |
Utility Information
Water: | City |
Water Paid By: | Tenant - Individual Service |
Sewer: | Septic |