Photo of Manufactured Home Community
Photo of Multi Family Housing
Photo of Multi Family Housing
Photo of Mobile Home Park
Photo of Mobile Home Community
Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 13.9%
- Listing ID: 902356
- Posted On: Mar 3, 2018
- Updated On: Oct 15, 2018
Description
Solid 36 lot community, well taken care of. Tenants will welcome the option of converting over to a TOH. Vacancies are typically filled by word of mouth.
Well established mobile home community just 9 miles from Auburn University. Strong rental income with well maintained homes, 13 doubles and 22 singles. 14.65Acres. Additional 18 acres is available to build out 50 more lots. It use to be a 32 acre community.
Rural area but close to Auburn University.
DO NOT CONTACT MANAGER OR TENANTS
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Park Information
| Community Type: | All Age |
| Number of MH Lots: | 36 |
| Total Occupancy: | 95.0 % |
| Average MH Lot Rent: | $295 |
| Size: | 15 acre(s) |
Financial Information
| Gross Income: | $158,879 |
| Operating Expense: | $71,593 |
| Net Operating Income: | $88,083 |
| Expense Ratio: | 45.1 % |
Lot Information
| Singlewide Lots: | 22 |
| Doublewide Lots: | 13 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Individual Service |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 30 |
| Average Rent for Park-owned Homes: | $495 |
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