Mobile Home Park Details
- Purchase Method: Cash, Seller Financing, New Loan
- Cap Rate: 14.5%
- Listing ID: 899980
- Posted On: Feb 21, 2018
- Updated On: Oct 15, 2019
Description
Income producing mobile home park. The park consists of 10 park owned homes, all on city utilities. There is also a 3/2 single family residence inside the park being rented as well. This is located in a quickly expanding part of town. With thousands of new jobs coming to Bay County via Tyndall Air Force Base and Eastern Shipbuilding this is a great time to buy income property in Bay County. There is room to raise rents on the majority of the homes. Excellent opportunity.
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Park Information
Community Type: | All Age |
Number of MH Lots: | 10 |
Total Occupancy: | 91.0 % |
Year Built: | 1975 |
Average MH Lot Rent: | $500 |
Size: | 2 acre(s) |
Financial Information (Actual)
Gross Income: | $70,200 |
Operating Expense: | $12,000 |
Net Operating Income: | $58,200 |
Expense Ratio: | 17.1 % |
Debt Info: | None |
Lot Information
Park Model Lots: | 10 |
Utility Information
Water: | City |
Water Paid By: | Tenant - Individual Service |
Sewer: | City |
Park-Owned Homes
Number of Park-owned Homes: | 10 |
Average Rent for Park-owned Homes: | $500 |