Photo of Mobile Home Park
Mobile Home Park Details
- Purchase Method: Seller Financing, New Loan
- Cap Rate: 9.0%
- Listing ID: 431521
- Posted On: Apr 9, 2014
- Updated On: Jul 14, 2015
Description
160 Lot Mobile Home Park on 44 acres. Located on a busy highway. Great occupancy. Currently 128 of the lots are fully developed and rented. The remaining lots just need a little work to bring online. Owner owns 17 of the homes and there is a duplex on the property as well. Lot rent is $200 and owner pays for the water. Tenants pay their own electric. Lots are on septic tanks. Just down the street from a newer school. Property has a Onsite office. Potential to possibly open up a separate RV section. Also could possibly raise the lot rent by $25 a month. Lot rent was last raised last summer.
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Park Information
| Community Type: | All Age |
| Number of MH Lots: | 160 |
| Total Occupancy: | 80.0 % |
| Year Built: | 1980 |
| Average MH Lot Rent: | $200 |
| Size: | 44 acre(s) |
Financial Information (Actual)
| Gross Income: | $359,000 |
| Operating Expense: | $155,000 |
| Net Operating Income: | $205,000 |
| Expense Ratio: | 43.2 % |
Utility Information
| Water: | City |
| Water Paid By: | Park |
| Sewer: | Septic |
