Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Mobile Home Park Details
- Purchase Method: New Loan
- Cap Rate: 6.3%
- Listing ID: 717712
- Posted On: Oct 30, 2016
- Updated On: May 5, 2017
Description
80 unit mobile home park in the City of Parshall North Dakota built in 2012. The park is situated on 11 acres with city utilities and 78% occupied. The park was built in 2012. The park owns and rents out 19 newer mobile homes. The owner has taken extra care to only allow lot rentals to mobile homes that are in excellent condition.
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Park Information
| Community Type: | All Age |
| Number of MH Lots: | 80 |
| Total Occupancy: | 78.0 % |
| Year Built: | 2012 |
| Size: | 11 acre(s) |
Financial Information (Actual)
| Gross Income: | $532,680 |
| Operating Expense: | $99,885 |
| Net Operating Income: | $432,795 |
| Expense Ratio: | 18.8 % |
Lot Information
| Singlewide Lots: | 80 |
Utility Information
| Water: | City |
| Water Paid By: | Park |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 19 |
| Average Rent for Park-owned Homes: | $1,000 |