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
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: 16.3%
  • Listing ID: 444085
  • Posted On: May 13, 2014
  • Updated On: Aug 15, 2014

Description

here is an excellent deal. its a 2 acre mhp with 10 lots. all lots have their owe septic tank. it has street lights. park has access to city/county water. lot 1 is on county water. lots 2-10 are on a well operated by the park owner. electric bill for well for park is on average $25/month. park is just outside city limits, located in county. but has easy access to the city and major highways. park is located atbout 40 minutes north of Raleigh on Hwy 1 (capital blvd).
lot 1- lot rent only $200
lot 2-lot rent only $225
lot 3-home financed to tenant for $400/month. still have 70 months left on note
lot 4- lot rent lonly $225
lot 5-lot rent only of $230
lot 6-lot rent only of $225
lot 7-vacant and needs a home
lot 8-lot rent only $230
lot 9-lot rent only $200
lot 10-lot rent only $200
property taxes are about $1300/yr.
tenants paid for their own electric and trash service. tenants also maintain there own lawn. park does have very nice shade trees.

here is a link to a video of the park https://www.youtube.com/watch?v=etYlm6BzNHo

Amenities

  • Handicap Accessible
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Park Information

Community Type: All Age
Number of MH Lots: 10
Total Occupancy: 90.0 %
Year Built: 1976
Average MH Lot Rent: $225
Size: 2 acre(s)

Financial Information (Actual)

Gross Income: $2,400
Operating Expense: $25
Net Operating Income: $2,375
Expense Ratio: 1.0 %

RV Information

Number of RV Lots: 0
Average RV Lot Rent: $0

Utility Information

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

Park-Owned Homes

Number of Park-owned Homes: 0
Average Rent for Park-owned Homes: $400