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: Cash, New Loan
- Cap Rate: 7.1%
- Listing ID: 412330
- Posted On: Oct 25, 2013
- Updated On: Mar 5, 2014
Description
54 MH spaces with an additional 28 RV sites. There are 4 permanent RVs located in the park, while the current ownership has disallowed the remaining 24 RV sites to be rented. Cap Rate is based on MH income only, as RV income is virtually all untapped revenue. This is a great opportunity to capture income that is not being realized and add some real value to this investment!
Amenities
- Laundromat
- Pool
- Storage
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Park Information
| Community Type: | All Age |
| Number of MH Lots: | 54 |
| Total Occupancy: | 84.0 % |
| Year Built: | 1961 |
| Average MH Lot Rent: | $290 |
| Size: | 23 acre(s) |
Financial Information (Pro Forma)
| Gross Income: | $192 |
| Operating Expense: | $73 |
| Net Operating Income: | $118 |
| Expense Ratio: | 38.0 % |
Lot Information
| Singlewide Lots: | 35 |
| Doublewide Lots: | 10 |
RV Information
| Number of RV Lots: | 28 |
| Average RV Lot Rent: | $290 |
Utility Information
| Water: | Well |
| Sewer: | Septic |