Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
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: 12.0%
  • Listing ID: 853897
  • Posted On: Sep 2, 2017
  • Updated On: Jan 11, 2018

Description

This is a clean turn key park with TONS of upside due to the fact that the lot rents are way under market. City water (sub metered) and septic. This Park is grandfathered in for 65 lots!!! 16 tenant owned homes in there now and two Park owned homes comes with the sale.

Other parks in the area are charging $200-225 a month. By increasing the lot rent and adding 3 new homes in the 3 vacant spaces, you can gross over $4,000 a month.

There is a stick build home that rents for $500 a month and a small warehouse that rents for $300 a month. Lot rent is scheduled to increase in January of 2018 to $185. Three used trailers need to be purchased in order to maximize the cash flow. It's a well managed park with stable long term tenants.

I would prefer to deal with Cash buyers. I will be flexible on price if you don't need banks. Call me any time with any questions.

(586) 524-8845

Interested in purchasing this mobile home park? Get pre-qualified for a loan.

Park Information

Community Type: All Age
Number of MH Lots: 65
Total Occupancy: 23.0 %
Year Built: 1979
Average MH Lot Rent: $150
Size: 6 acre(s)

Financial Information (Pro Forma)

Gross Income: $48,500
Operating Expense: $9,740
Net Operating Income: $38,760
Expense Ratio: 20.1 %

Lot Information

Singlewide Lots: 20

Utility Information

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

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