Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park

Mobile Home Park Details

  • Purchase Method: New Loan
  • Cap Rate: 9.3%
  • Listing ID: 404204
  • Posted On: Sep 23, 2013
  • Updated On: Jan 13, 2014

Description

Sojourner Mobile Home Park is a 49 space, all-age community located in Smithfield, Utah. The park is on city water and sewer. The space rent includes water, sewer and trash. The park has paved streets that are in good condition.With a growing county population of over 150,000 people and a low unemployment rate, demand for spaces is good. Cache County is home to Utah State University. Other major employers with over 1,000 employees include Icon, Inc., Intermountain Health Care, Inc., and Swift Beef Company.

Sojourner Mobile Home Park Mobile Home Park offers an investor the opportunity to obtain a turn-key operation that does not require immediate cash-intensive upgrades to maintain an attractive yield with upside by steadily increasing rents over time.

There are four homes sold on contract at the park that are not included in the Asking Price. There are four rental homes. Revenue from the rental homes was included in calculating the net operating income. Contact your Marcus & Millichap representative for details.

Amenities

  • Laundromat
  • Club House
  • Handicap Accessible
Interested in purchasing this mobile home park? Get pre-qualified for a loan.

Park Information

Community Type: All Age
Number of MH Lots: 49
Total Occupancy: 95.0 %
Year Built: 1972
Average MH Lot Rent: $300
Size: 5 acre(s)

Financial Information (Actual)

Gross Income: $185,265
Operating Expense: $45,954
Net Operating Income: $132,111
Expense Ratio: 24.8 %

Lot Information

Singlewide Lots: 48
Doublewide Lots: 1

Utility Information

Water: City
Water Paid By: Park
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 4
Average Rent for Park-owned Homes: $300