Mobile Home Park Details
- Cap Rate: 5.0%
- Listing ID: 831241
- Posted On: Jul 10, 2017
- Updated On: Oct 15, 2017
Description
Marcus & Millichap is pleased to present 5317 Florence Avenue, a new construction 19-unit multifamily investment property in Bell, California. This exciting turnkey opportunity features 19 new construction one-bedroom/one-bath mobile homes on a large 22,895-square foot lot. The property also features ample on-site parking and attractive landscaping.
The excellent condition of the units attracts quality tenants and makes this property competitive in an extremely dense rental market where vacancy rates have dipped below two percent. Additionally, the property's location conveniently near the 710 Freeway makes it an attractive commuter option.
With strong cash flow on current rents, 5317 Florence Avenue is an excellent opportunity to acquire a turnkey asset in a dense rental market.
Park Information
Community Type: | All Age |
Number of MH Lots: | 19 |
Total Occupancy: | 95.0 % |
Year Built: | 2017 |
Average MH Lot Rent: | $1,326 |
Size: | 1 acre(s) |
Financial Information (Actual)
Gross Income: | $302,328 |
Operating Expense: | $125,106 |
Net Operating Income: | $168,152 |
Expense Ratio: | 41.4 % |