SUTCO Properties - for Sale in Jerome, Idaho
D, E, & F Streets
Jerome, ID 83338
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Broker Information
Wes Leisy
Mobile Home Park for Sale |
|
| Number of MH Lots: | 41 |
| Cap Rate: | 9.6% |
| Purchase Method: | Cash, New Loan |
| Status: | Active |
| Property ID: | 101439 |
| Posted on: | Jul 06, 2011 |
| Updated on: | Aug 04, 2011 |
| Price: | $1,550,000 |
Property Description
NEW PRICE REDUCTION WITH HIGHLY MOTIVATED SELLER. IT IS NOW A 10.0% CAP RATE. SELLER would entertain your best offer. This is a very unique park, 41 spaces with 40 park owned homes 26 of the 40 homes are on permanent foundations. All of the homes are 1993 or newer. The park is very well maintained with each home having its own storage unit, tenants pay all of their own utilities, the park maintains the lawns and charges the tenants a fee for doing them.
Seller is motivated to move this Park. This park has a very good rental history and is currently full with a waiting list.
Would this work for you if it was a 10 Cap Rate or better? Bring an offer.
Location Description
41 spaces and 40 Park owned homes. This community has many industries that enhance the rental of these homes.
Park Information
| Number of MH Lots: | 41 |
| Total Occupancy: | 100.0% |
| Average MH Lot Rent: | $480 |
Financial Information (Actual)
| Gross Income | $219 |
| Operating Expense | $63 |
| Net Operating Income | $147 |
| Expense Ratio | 28.8% |
| Debt Info |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Individual Service |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 40 |
| Average Rent for Park-owned Homes: | $480 |
Amenities and Other
| Storage: | Yes |
Other Properties from Broker
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