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 |