Hidden Valley MHP - for Sale in Hot Springs, Arkansas
Hot Springs, AR
View on Map
Email Seller
Seller Information
Creed Williams
Mobile Home Park for Sale |
|
| Number of MH Lots: | 42 |
| Size: | 7.2 acre(s) |
| Cap Rate: | 10.0% |
| Purchase Method: | Cash, New Loan |
| Status: | Sale Pending |
| Property ID: | 12481 |
| Posted on: | Jun 02, 2010 |
| Updated on: | May 16, 2012 |
| Price: | $625,000 |
Property Description
42 spaces; 7.2 acres; 4 vacant lots; 6 rental homes
Nice community with good residents...
Property Description: Efficient turn key business that operates with absentee ownership.
Individually metered, billed, and collected city utilities means lower overhead for ownership and no utility billing duties for management.
Current gross income >$7,000.
Stable residents, many since the 1990s.
Attractive and well maintained property developed in the 1980s and 1990s, one of the nicest all age communities in the area.
Could add a few more home sites.
No Seller Financing. This is not a distressed property.
9% Cap Rate >11% Cash on Cash
IRR with 5 yr hold, same cap rate and assumptions >15%
Location Description
Location Description: The local economy has jobs and population growth.
Favorable south-of-town location, vacancies fill quickly.
Close to Lake Hamilton, Super Wal-Mart, and all amenities.
Includes 5 well maintained and leased rental homes + 1 SFR.
Upside: Fill the 4 vacant lots with homes and sell on contract.
Below market rents.
Park Information
| Number of MH Lots: | 42 |
| Total Occupancy: | 90.0% |
| Average MH Lot Rent: | $140 |
| Size: | 7.2 acre(s) |
Financial Information
| Net Operating Income | $62,500 |
| Debt Info |
Lot Information
| Singlewide Lots: | 42 |
| Park Model Lots: | 1 |
RV Information
| Number of RV Lots: | 0 |
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: | $490 |