Mobile Home Park Details
- Purchase Method: Cash, New Loan, Assumable Loan
- Cap Rate: 5.7%
- Listing ID: 878950
- Posted On: Nov 16, 2017
- Updated On: Dec 22, 2017
Description
90 site park in Illinois Metro area, with population of over 120,000. City Water, City Sewer. Top three industries are Healthcare and Social Services, Education, and Government. Park is a 3-star mobile home park with stable occupancy. Lot Rent is $280 as of January 2018, and still below market. 19 lots are empty. There are 17 POHs, with 7 currently occupied and paying $280 home rent. Each home is individually submetered for water with tenants paying for water and sewer consumption in addition to lot rent.
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Park Information
Community Type: | All Age |
Number of MH Lots: | 90 |
Total Occupancy: | 70.0 % |
Average MH Lot Rent: | $280 |
Size: | 14 acre(s) |
Financial Information (Pro Forma)
Gross Income: | $245,280 |
Operating Expense: | $122,487 |
Net Operating Income: | $122,800 |
Expense Ratio: | 49.9 % |
RV Information
Number of RV Lots: | 0 |
Utility Information
Water: | City |
Water Paid By: | Tenant - Submetered |
Sewer: | City |
Park-Owned Homes
Number of Park-owned Homes: | 17 |
Average Rent for Park-owned Homes: | $280 |