Photo of Mobile Home Park
Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 12.0%
- Listing ID: 887026
- Posted On: Dec 17, 2017
- Updated On: Apr 13, 2018
Description
Small, easy to manage park right outside of Hickory North Carolina. This is the ideal starter park or tack-on to an existing portfolio. Minimal upkeep and DIRECT BILL CITY SEWER/WATER - Extremely rare!
I am selling as part of my portfolio management to focus on larger parks.
NO seller financing available as we have a mortgage on the property and it is NOT assumable.
-15 pads/13 units (1 rent-to-own and the remaining are lot rent only)
-Lot rents average about $200/month
-City sewer/water billed directly to tenants (installed within the past 10 years)
-Park pays $140/month for trash
-Park is responsible for mowing
Interested in purchasing this mobile home park? Get pre-qualified for a loan.
Financial Information (Actual)
| Gross Income: | $29,170 |
| Operating Expense: | $5,145 |
| Net Operating Income: | $23,971 |
| Expense Ratio: | 17.6 % |
Lot Information
| Singlewide Lots: | 15 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Individual Service |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 1 |
| Average Rent for Park-owned Homes: | $400 |