Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 25.0%
- Listing ID: 69170
- Posted On: May 5, 2011
- Updated On: Jun 10, 2011
Description
I am selling 15 mobile homes set up in a park in Victoria, TX. 10 are 2005 models and the rest range from 1985 to 1996. They are 100% occupied and stay that way. The rental market is great and getting better due to the new catepillar plant being built that will add over 450 new jobs. I am only selling due to the fact that i need the funds for something else.
Location
Centrally located.
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Park Information
| Community Type: | All Age |
| Number of MH Lots: | 15 |
| Total Occupancy: | 100.0 % |
| Year Built: | 2005 |
| Average MH Lot Rent: | $718 |
Financial Information (Actual)
| Gross Income: | $129,300 |
| Operating Expense: | $51,131 |
| Net Operating Income: | $78,169 |
| Expense Ratio: | 39.5 % |
Lot Information
| Singlewide Lots: | 15 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Submetered |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 15 |
| Average Rent for Park-owned Homes: | $718 |
