Mobile Home Park Details
- Purchase Method: Cash, Seller Financing, New Loan
- Cap Rate: 11.3%
- Listing ID: 876218
- Posted On: Nov 7, 2017
- Updated On: Feb 18, 2018
Description
The Lakeland Court park is located close to the Lakeland Mall with all the shopping and restaurants nearby. This magnificent park consists of:
2 Block Homes
2 Duplexes
23-spaces/MH Units
75% Occupied
GR = $171,756
NOI = $133,157
The owners are using a rent ready Doublewide that can be leased for $850/mo. Also, they have completely refurnished a vacant unit from one of the duplexes that will capture $950. Just these two rentals will bring in $21,600/an gross revenue.
Price: $1,200,000
Sellers may consider offering Seller Financing to a Qualified Purchaser.
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Interested in purchasing this mobile home park? Get pre-qualified for a loan.
Park Information
Community Type: | All Age |
Number of MH Lots: | 22 |
Total Occupancy: | 75.0 % |
Average MH Lot Rent: | $600 |
Size: | 3 acre(s) |
Financial Information
Gross Income: | $171 |
Operating Expense: | $37 |
Net Operating Income: | $133 |
Expense Ratio: | 21.6 % |
Utility Information
Water: | City |
Water Paid By: | Tenant - Individual Service |
Sewer: | Septic |
Park-Owned Homes
Number of Park-owned Homes: | 19 |
Average Rent for Park-owned Homes: | $600 |