Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 8.5%
- Listing ID: 970728
- Posted On: Jul 19, 2018
- Updated On: Jan 7, 2019
Description
This park consists of 102-spaces that includes both MHP and RV spaces. The Seller of the property does not have the time to continue running the park and is selling it at only $19K-$20Kper space to a qualified purchaser!
Property includes:
Waterfront ( access to Orange Lake)
31-Boat Slips
11-acres
102-spaces (45-MH’s and 57-RV)
9-Park Models
5-Mobile Homes
3-RV’s
City Water/WWTP
Updated Electrical
60% Occupied
Current GR: $307,524(Annualized 2018)
Current NOI:$173,000- $221,202 (Annualized 2018)
Asking Price: $2,100,000 OBO - POF's must accompany all offers!
Interested in purchasing this mobile home park? Get pre-qualified for a loan.
Park Information
Community Type: | 55 And Over |
Number of MH Lots: | 102 |
Total Occupancy: | 60.0 % |
Year Built: | 1967 |
Size: | 10 acre(s) |
Financial Information (Pro Forma)
Gross Income: | $316,827 |
Operating Expense: | $112,335 |
Net Operating Income: | $209,492 |
Expense Ratio: | 35.5 % |
RV Information
Number of RV Lots: | 57 |
Average RV Lot Rent: | $360 |
Utility Information
Water: | City |
Water Paid By: | Park |
Sewer: | Treatment Plant |
Park-Owned Homes
Number of Park-owned Homes: | 17 |
Average Rent for Park-owned Homes: | $750 |