Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park

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 %

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

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