Mobile Home Park Details

  • Purchase Method: Cash
  • Cap Rate: 12.0%
  • Listing ID: 455029
  • Posted On: Jun 10, 2014
  • Updated On: Jun 10, 2015

Description

200 spaces, 60 acres, 75 mobile homes, great potential to build up. Near by hospital and the Golf course, in a nice area of the town. The City is getting funding for the growth and bringing more business to the area. The housing is in demand. Just added 30 more homes. The expenses include $4300/month for water that can be eliminated with 30 K investment to sub-meter with the city....Cap rate would increase to 16 %. Partnership is out of funds.....Make an offer, seller motivated!

Amenities

  • Storage
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Park Information

Community Type: All Age
Number of MH Lots: 200
Total Occupancy: 95.0 %
Year Built: 1960
Average MH Lot Rent: $250
Size: 60 acre(s)

Financial Information (Actual)

Gross Income: $228,000
Operating Expense: $150,000
Net Operating Income: $78,000
Expense Ratio: 65.8 %
Debt Info: none

Lot Information

Singlewide Lots: 200

Utility Information

Water: City
Water Paid By: Park
Sewer: Treatment Plant

Park-Owned Homes

Number of Park-owned Homes: 57
Average Rent for Park-owned Homes: $400

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