Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 9.3%
- Listing ID: 1627742
- Posted On: Mar 22, 2022
- Updated On: May 4, 2022
Description
This fully occupied MHP consists of 19 units total ranging from $550 to $850 for the 18 park owned mobile homes and 1 stick built house located on 10.5 acres with a scenic pond.
All units are separately metered for water and electric, all septic tanks have riser lids for easy access, and most homes have metal roofs and are well-maintained. The property is 35 minutes from Birmingham, 15 minutes from Pell City, Chelsea, and Leeds, AL.
Location
The property is 35 minutes from Birmingham, 15 minutes from Pell City, Chelsea, and Leeds, AL.
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Park Information
| Community Type: | All Age |
| Number of MH Lots: | 19 |
| Total Occupancy: | 100.0 % |
| Year Built: | 1980 |
| Size: | 11 acre(s) |
Financial Information (Actual)
| Gross Income: | $133,000 |
| Operating Expense: | $32,000 |
| Net Operating Income: | $101,000 |
| Expense Ratio: | 24.1 % |
RV Information
| Number of RV Lots: | 0 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Individual Service |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 19 |
| Average Rent for Park-owned Homes: | $700 |