Mobile Home Park Details

  • Purchase Method: Cash, Seller Financing, New Loan
  • Cap Rate: 11.1%
  • Listing ID: 393462
  • Posted On: Feb 12, 2014
  • Updated On: Feb 17, 2015

Description

20 UNIT PARK, 14 PARKED OWNED, 6 LOT RENTAL, PAVED ROADS AND STREET LIGHTS, SEPTIC SYSTEMS FOR EACH UNIT, EACH UNIT WITH WATER METER. PARK IS 100% OCCUPIED YEAR AROUND, RENTS OUT VERY WELL DUE LOCATION AND NICE COUNTRY SETTING.SELLER FINANCING CONSISTS OF SECOND MORTGAGE ONLY.

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Park Information

Number of MH Lots: 20
Total Occupancy: 100.0 %
Year Built: 1992
Average MH Lot Rent: $0
Size: 0 acre(s)

Financial Information

Gross Income: $87,396
Operating Expense: $12,396
Net Operating Income: $75,000
Expense Ratio: 14.2 %

Lot Information

Singlewide Lots: 19
Doublewide Lots: 1

Utility Information

Water: City
Water Paid By: Tenant - Individual Service
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 14
Average Rent for Park-owned Homes: $450

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