Mobile Home Park Details

  • Listing ID: 363218
  • Posted On: Feb 19, 2013
  • Updated On: Feb 25, 2016

Description

Approximately 13 Acres
67 lots
City Sewer/Well Water
4 acres in front of the park unused
Purchase Price $449,000.00 with 20% down and balance 20years @ 6%

Income
11 Lots Rented @ $293.00 $3,223.00
9 Park owned @ $407.00 $3,663.00
Total Monthly Income $6,886.00
Expenses
500.00Electric
100.00 Gas
900.00 Sewer
300.00 Trash
200.00 Water
450.00 RE Taxes
150.00 Insurance
2600.00 Total Expenses $2,600.00
Approximant Net Income $4,286.00
X12
$51,432.00
Less Mtg Payments $2,822.40 monthlyx12= $33,869.00
Aprox net profit 1st year $17,563.00

Includes 16 homes on Lots that need rehabbed
That are grandfathered in thus saving $40,000
In set up and delivery fees and lot upgrades could
Be sold or rented @ $407.00 monthly x 27= $10,989.00

This will a Great Investment for a Local Investor that is handy and
Able to do all the work himself, Present owner lives over 4 hours from the park and is not handy and has to hire all the work done.
OWNER TERMS AND FINANCING IS ALSO A PLUS

Please Contact Bill @ 734-649-1380

Interested in purchasing this mobile home park? Get pre-qualified for a loan.

Park Information

Number of MH Lots: 67
Average MH Lot Rent: $293

Utility Information

Water: City

Park-Owned Homes

Number of Park-owned Homes: 9
Average Rent for Park-owned Homes: $407

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