Mobile Home Park Details

  • Distressed: This property is in default, REO or in foreclosure.
  • Listing ID: 920270
  • Posted On: Apr 18, 2018
  • Updated On: Jul 21, 2018

Description

One of the owners is going through a divorce and needs to sell the property. This property has had a lot of work on the infrastructure but now needs to get tenants to make it profitable. Sewer system is up to code with many new lines and new man hole, etc. Over the last year we have cleaned all of the drugs out and the tenants remaining are great! The road is maintained by the city!!

We have an "as complete" appraisal for $1,000,000 on the property.

Please email with any questions!!! Motivated Seller!!

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Park Information

Community Type: All Age
Number of MH Lots: 50
Total Occupancy: 30.0 %
Average MH Lot Rent: $205
Size: 10 acre(s)

Financial Information (Pro Forma)

Gross Income: $14,740
Operating Expense: $3,997
Net Operating Income: $10,742
Expense Ratio: 27.1 %

Lot Information

Singlewide Lots: 50

Utility Information

Water: City
Water Paid By: Park
Sewer: Treatment Plant

Park-Owned Homes

Number of Park-owned Homes: 26
Average Rent for Park-owned Homes: $400

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