Mobile Home Park Details
- Purchase Method: Cash
- Cap Rate: 19.0%
- Listing ID: 120863
- Posted On: Feb 20, 2012
- Updated On: Apr 21, 2013
Description
19% RETURN ON INVESTMENT/NEWER HOMES/LOW RISK/COASTAL AREA CLOSE TO BEACH/LONG TERM TENANTS
This park is very well kept and clean. Homes are well kept, all have central heat and air, all are 2006 and newer. Can add 2 more homes for a monthly income of approx. 5000.00
Great small park with 6 newer units..5 park owned and one tenant owned
All tenants are on auto deposit for rents
tenants pay their own utilities/trash and take care and mow their own yards
OWNER PAYS FOR REAL ESTATE TAXES ONLY
This park is located in Coastal Rockport which is a great vacation/retirement area. This small park would make a great nightly or weekend vacation rental area.
2 WELLS / CITY SEWER ZONED MOBILE HOME SUBDIVISION/4 CONNECTING LOTS TOTALING 3 TOTAL ACRES
DO NOT TALK TO THE TENANTS OR WALK THE PROPERTY WITHOUT PERMISSION
Location
RURAL AREA YET TWO MILES FROM THE BEACH/WALMART AND ALL SHOPPING..ROCKPORT IS A GREAT VACATION SPOT
CASH ONLY..NO OWNER FINANCING AT THIS PRICE
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 8 |
| Total Occupancy: | 100.0 % |
| Year Built: | 2011 |
| Size: | 3 acre(s) |
Financial Information (Actual)
| Gross Income: | $41,500 |
| Operating Expense: | $3,000 |
| Net Operating Income: | $38,500 |
| Expense Ratio: | 7.2 % |
Lot Information
| Singlewide Lots: | 3 |
| Doublewide Lots: | 2 |
| Park Model Lots: | 3 |
Utility Information
| Water: | Well |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 6 |
| Average Rent for Park-owned Homes: | $750 |