Cj's Entrance
Oak tree Entrance
Duplex
Double Wide
Single Wide
Single Wide
Single Wide
Single Wide
Mobile Home Park Details
- Purchase Method: New Loan
- Cap Rate: 12.0%
- Listing ID: 726002
- Posted On: Nov 30, 2016
- Updated On: Dec 28, 2016
Description
This is a two-park portfolio consisting of CJ's MHP located at 15101 North 15th Street and Oaktree MHP located at 1920 East 151st Avenue. The parks are a block apart. One on-site management in place for both communities. These are two well-maintained parks in a quiet residential neighborhood. The parks are 100% occupied and provide great returns. There are a total 26 lots but there are 33 rental units due to 7 duplex double wide homes.
Amenities
- Laundromat
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Park Information
| Community Type: | All Age |
| Number of MH Lots: | 26 |
| Total Occupancy: | 100.0 % |
| Year Built: | 1970 |
| Size: | 3 acre(s) |
Financial Information (Pro Forma)
| Gross Income: | $250,440 |
| Operating Expense: | $106,900 |
| Net Operating Income: | $143,540 |
| Expense Ratio: | 42.7 % |
| Debt Info: | 75% LTV, 5%, 5 Years |
Lot Information
| Singlewide Lots: | 18 |
| Doublewide Lots: | 7 |
RV Information
| Number of RV Lots: | 1 |
| Average RV Lot Rent: | $600 |
Utility Information
| Water: | Well |
| Water Paid By: | Park |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 26 |
| Average Rent for Park-owned Homes: | $720 |
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