Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 13.0%
- Listing ID: 836231
- Posted On: Jul 23, 2017
- Updated On: Mar 1, 2018
Description
Mobile Home Park with 20 spaces, plus Single Family House. 16 lots have homes on them, 15 are occupied, 4 vacant spots, 1 vacant home available for remodel, 2 of the 15 occupied homes are Park owned homes. Enclosed garage for equipment or other uses. Also, there is a commercial building approximately 500 feet that can be utilized for an office or rented out.
Just outside of Oswego city limits in town of Scriba. Quiet park. Gross income amounts include $64k of lot rental income and $19k of income from 5 notes from mobile home buyers who bought their homes from park. If you don't want the note income, I will keep the notes and sell the park at a 10 cap for $483,000.
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Park Information
Community Type: | All Age |
Number of MH Lots: | 20 |
Total Occupancy: | 75.0 % |
Year Built: | 1983 |
Average MH Lot Rent: | $255 |
Size: | 11 acre(s) |
Financial Information (Actual)
Gross Income: | $84,000 |
Operating Expense: | $16,000 |
Net Operating Income: | $68,000 |
Expense Ratio: | 19.0 % |
Lot Information
Singlewide Lots: | 18 |
Doublewide Lots: | 2 |
Triplewide Lots: | 0 |
Park Model Lots: | 0 |
Utility Information
Water: | City |
Water Paid By: | Park |
Sewer: | Septic |
Park-Owned Homes
Number of Park-owned Homes: | 2 |
Average Rent for Park-owned Homes: | $625 |