Mobile Home Park Details
- Cap Rate: 15.2%
- Listing ID: 802117
- Posted On: Apr 10, 2017
- Updated On: Dec 30, 2021
Description
The all-ages community Tall Oaks is a 23 site mobile home park consisting of 16 park owned homes, currently running a 98% occupancy rate. The average lot rent is $400 per month and $600 for Park-Owned Homes.
The property’s water needs are maintained by a well and sewer is city-serviced (which are included in monthly rent). City electric, direct billed. The gas is for a single storage unit.
Click the Link for an Offering Memorandum: https://wwws.stagexchange.com/strattongroup/IN5
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Park Information
| Community Type: | All Age |
| Number of MH Lots: | 23 |
| Total Occupancy: | 98.0 % |
| Average MH Lot Rent: | $300 |
| Size: | 3 acre(s) |
Financial Information (Actual)
| Gross Income: | $115,838 |
| Operating Expense: | $47,319 |
| Net Operating Income: | $68,519 |
| Expense Ratio: | 40.8 % |
Utility Information
| Water: | Well |
| Water Paid By: | Park |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 18 |
| Average Rent for Park-owned Homes: | $600 |
