Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 8.0% (Actual)
- Listing ID: 775278
- Posted On: Jan 3, 2017
- Updated On: Apr 8, 2017
Description
The park has 23 spaces with 23 park owned mobile homes. The mobile homes are 2006 and 2007 models. There are 21 3BR 2BA and 2 2BR 2BA homes. The park was built in 2006 and is well maintained. The park landscaping consists of low maintenance desert landscaping. The park perimeter is fenced with a modern block fence. The streets are paved and each space has 2 parking spaces. With 100% occupancy, the park grosses $12550. The actual occupancy is consistently around 92%.The monthly expenses consist of water bill, insurance, property tax, management, trash services and repair and maintenance. The park nets $7186 per month on average and at an 8% cap rate the selling price is $1080000. At this price the income will cover a reasonable interest rate loan as well as the monthly expenses.
Park Information
Community Type: | All Age |
Number of MH Lots: | 23 |
Total Occupancy: | 92.0 % |
Year Built: | 2006 |
Average MH Lot Rent: | $550 |
Size: | 3 acre(s) |
Financial Information (Actual)
Gross Income: | $12,550 |
Operating Expense: | $5,364 |
Net Operating Income: | $7,186 |
Expense Ratio: | 42.7 % |
Lot Information
Singlewide Lots: | 23 |
Doublewide Lots: | 0 |
Triplewide Lots: | 0 |
Park Model Lots: | 0 |
RV Information
Number of RV Lots: | 0 |
Average RV Lot Rent: | $0 |
Utility Information
Water: | City |
Water Paid By: | Park |
Sewer: | City |
Park-Owned Homes
Number of Park-owned Homes: | 23 |
Average Rent for Park-owned Homes: | $550 |