Mobile Home Park Details
- Purchase Method: Seller Financing
- Cap Rate: 13.8%
- Listing ID: 372619
- Posted On: May 21, 2013
- Updated On: Aug 6, 2013
Description
Park on city water/sewer/trash. Only 21 tenants, 11 owner-occupied, 10 lease-purchased. No on-site mgr., and owner lives too far away to effectively collect his rents or to screen new tenants.
10% ($40,000) DOWN! 5%, 30 yr. amort Where can you buy a viable park for this down?.
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Park Information
| Community Type: | All Age |
| Number of MH Lots: | 49 |
| Total Occupancy: | 43.0 % |
| Year Built: | 198 |
| Average MH Lot Rent: | $185 |
| Size: | 20 acre(s) |
Financial Information
| Gross Income: | $60 |
| Operating Expense: | $5 |
| Net Operating Income: | $55 |
| Expense Ratio: | 8.3 % |
| Debt Info: | None |
Lot Information
| Singlewide Lots: | 20 |
| Doublewide Lots: | 39 |
| Triplewide Lots: | 0 |
| Park Model Lots: | 0 |
RV Information
| Number of RV Lots: | 0 |
| Average RV Lot Rent: | $0 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Submetered |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 10 |
| Average Rent for Park-owned Homes: | $273 |