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Mobile Home Park Details

  • Purchase Method: Cash
  • Cap Rate: 8.2%
  • Listing ID: 826387
  • Posted On: Jun 26, 2017
  • Updated On: Dec 14, 2017

Description

Crestview Estates is a well maintained and established mobile home park (MHP) in the southwest Ohio community of Sardinia. 33.45 acres total.

The property has a strong operating history, boasts low overhead & strong cash flow, and is ideally positioned for future expansion and growth. Approved for 88 lots, the property consists of 27 improved lots (27 homes | 13 park-owned & 14 tenant-owned). Amenities include wide asphalt streets, rolled concrete curbing, concrete parking pads (2 spaces per lot), level topography, adequate on-site detention, and a heavily wooded perimeter provides a park-like setting.

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Park Information

Community Type: All Age
Number of MH Lots: 88
Total Occupancy: 96.3 %
Size: 34 acre(s)

Financial Information (Pro Forma)

Gross Income: $108,240
Operating Expense: $34,355
Net Operating Income: $73,885
Expense Ratio: 31.7 %

Lot Information

Singlewide Lots: 88

RV Information

Number of RV Lots: 27

Utility Information

Water: City
Water Paid By: Tenant - Submetered
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 13
Average Rent for Park-owned Homes: $550

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