Photo of Mobile Home Park
Map
Photo of the Park
Photo of the Park
Mobile Home Park Details
- Purchase Method: Cash, Seller Financing, New Loan
- Cap Rate: 23.5%
- Listing ID: 997095
- Posted On: Oct 9, 2018
- Updated On: Nov 1, 2018
Description
We purchased this property this past year with plans for a long term hold. We have been making upgrades during our time of ownership. The park boast almost a 100% occupancy rate over the past 4 years and has had some tenants as long as 20 years. The reason we are selling is we have been presented with the opportunity to develop 18 new townhomes here in Denver and we are looking to sell a couple of assets to free up capital.
2017 the park grossed $94,195.05. This year with the updates and improvements we are on track to have NOI of around $46,000 for the year.
All of the homes a POH and could be setup on lease to own.
Interested in purchasing this mobile home park? Get pre-qualified for a loan.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 17 |
| Total Occupancy: | 100.0 % |
| Average MH Lot Rent: | $495 |
Financial Information (Actual)
| Gross Income: | $94 |
| Operating Expense: | $49,000 |
| Net Operating Income: | $46,000 |
| Expense Ratio: | 52127.7 % |
Lot Information
| Singlewide Lots: | 17 |
Utility Information
| Water: | City |
| Water Paid By: | Park |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 17 |
| Average Rent for Park-owned Homes: | $495 |