Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park

Mobile Home Park Details

  • Purchase Method: Cash, Seller Financing, New Loan
  • Cap Rate: 15.2%
  • Listing ID: 992558
  • Posted On: Sep 25, 2018
  • Updated On: May 24, 2023

Description

17 Lot park all tenant owned homes. There are 2 blank lots with room for more if a little rearranging is done. The majority of the residents have been there for over 10 years. At this price you are looking at a 15.2% CAP rate.Located next to an elementary school and close to a local community college. The garbage bin is provided by the park. The water is billed back out to the tenants. There's a good bit of upside here. I'm willing to consider owner finance with 50,000 down payment. I'm willing to give a significant discount for someone if they can close quickly.

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Park Information

Community Type: All Age
Number of MH Lots: 17
Total Occupancy: 88.0 %
Year Built: 1970
Average MH Lot Rent: $150
Size: 2 acre(s)

Financial Information (Actual)

Gross Income: $29
Operating Expense: $3,036
Net Operating Income: $26
Expense Ratio: 10469.0 %

Lot Information

Singlewide Lots: 17

RV Information

Number of RV Lots: 0

Utility Information

Water: City
Water Paid By: Tenant - Submetered
Sewer: City