Mobile Home Park Details
- Purchase Method: Cash, Seller Financing, New Loan
- Cap Rate: 8.6%
- Listing ID: 1239794
- Posted On: Apr 8, 2020
- Updated On: May 14, 2020
Description
20 Units in Tucson, AZ - 100% occupied. 16 Park-Model mobile homes, 3 1-bedroom Apartments and 1 Studio. Lot rents are $250 and apartments are at $500. There is a coin-operated washer/dryer unit that pulls in almost $2k annually and the owner bills back for water. Offered at $625k for a 8.62% cap rate. Financing with 30% down at 5.75% over 30 years, producing a 12.4% cash-on-cash return!
Amenities
- Laundromat
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Park Information
| Number of MH Lots: | 16 |
| Total Occupancy: | 100.0 % |
| Year Built: | 1943 |
| Average MH Lot Rent: | $250 |
| Size: | 1 acre(s) |
Financial Information
| Gross Income: | $76,560 |
| Operating Expense: | $22,665 |
| Net Operating Income: | $53,895 |
| Expense Ratio: | 29.6 % |
Lot Information
| Park Model Lots: | 16 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - RUBs |
| Sewer: | City |