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

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

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