Mobile Home Park Details
- Purchase Method: Cash, Assumable Loan
- Cap Rate: 11.6%
- Listing ID: 880674
- Posted On: Nov 21, 2017
- Updated On: Jan 30, 2018
Description
Partners very anxious to sell. Only $20K down!! Take advantage of this 8 unit mobile home park with the opportunity to leverage your investment with little down and existing $200K private mortgage already in place. The park consists of 8 mobile homes, 5 are currently leased, 1 needs some minor TLC and 2 need full rehab. Great upside income potential to expand park to 24 mobile homes. Rent lots or set up new or used MH. City water and septic. Tenants pay their own electric.
The Park is conveniently located 2 miles from Interstate 530 is only 15 minutes from Little Rock which is centrally located in Arkansas. Little Rock serves as not only the capital, but also as the primary economic and cultural hub for the state.
Location
On quiet street 2 miles from Interstate 530 is only 15 minutes from Little Rock.
Amenities
- Storage
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 8 |
| Total Occupancy: | 75.0 % |
| Year Built: | 1990 |
| Average MH Lot Rent: | $550 |
| Size: | 3 acre(s) |
Financial Information (Pro Forma)
| Gross Income: | $57,600 |
| Operating Expense: | $23,040 |
| Net Operating Income: | $34,560 |
| Expense Ratio: | 40.0 % |
| Debt Info: | $200,000 Assumable Mortgage |
Lot Information
| Singlewide Lots: | 8 |
Utility Information
| Water: | City |
| Water Paid By: | Park |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 8 |
| Average Rent for Park-owned Homes: | $600 |