Photo of Mobile Home Park
Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 10.0%
- Listing ID: 806263
- Posted On: Apr 25, 2017
- Updated On: May 31, 2018
Description
This "mobile home park" constitutes 11 separate lots, each with one mobile home on it. So 11 mobile homes. All park-owned. Just bought a newer home in the process of being installed. Certificate of Occupancy to be obtained imminently.
Average rent is about $500/month per home.
One of the home was completely rehabbed. But they are older homes, so maintenance expected.
With a GOOD manager, this property can bring in $50k NOI easily.
Interested in purchasing this mobile home park? Get pre-qualified for a loan.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 11 |
| Total Occupancy: | 50.0 % |
| Average MH Lot Rent: | $400 |
Financial Information (Pro Forma)
| Gross Income: | $66,000 |
| Operating Expense: | $10,600 |
| Net Operating Income: | $55,400 |
| Expense Ratio: | 16.1 % |
Lot Information
| Singlewide Lots: | 11 |
Utility Information
| Water: | Well |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 11 |
| Average Rent for Park-owned Homes: | $500 |
