Contact Information
Mobile Home Park Details
- Price: $495,000
- Purchase Method: Cash
- Cap Rate: 10.3%
- Listing ID: 3192716
- Posted On: Jun 21, 2023
- Updated On: Feb 9, 2024
Description
Granby MHP is a 14 pad park with huge value add potential. Rents are way under market rents at $175 per pad. Market rents are $250 per pad and higher in the immediate area. This increase will add an additional $5,400 per year to the bottom line. There is one vacant spaces that can be filled with a home and immediately rented to the Economic Improvement Council (EIC) (100% of rent for these POHs are paid by the EIC) in which all of the 6 POHs are currently rented to for an average of $750 per month. Adding the one new home will increase income by at least $9,000 per year.
This is a great investment opportunity for new ownership with the incredible value add components that this property has to offer.
Interested in purchasing this mobile home park? Get pre-qualified for a loan.
Park Information
Community Type: | All Age |
Number of MH Lots: | 14 |
Total Occupancy: | 86.0 % |
Average MH Lot Rent: | $175 |
Size: | 2 acre(s) |
Financial Information (Actual)
Gross Income: | $66,600 |
Operating Expense: | $15,561 |
Net Operating Income: | $51,039 |
Expense Ratio: | 23.4 % |
Utility Information
Water: | City |
Water Paid By: | Tenant - Individual Service |
Sewer: | City |
Park-Owned Homes
Number of Park-owned Homes: | 6 |
Average Rent for Park-owned Homes: | $750 |