Front view of park
Front view of park
Park pictures
Park pictures
Front view of park
Park pictures

Mobile Home Park Details

  • Purchase Method: Cash, New Loan, Assumable Loan
  • Cap Rate: 14.0%
  • Listing ID: 456836
  • Posted On: Jun 26, 2014
  • Updated On: May 1, 2015

Description

Profitable smaller mobile home park with assumable mortgage (20 year @ 5%) or investor secure new loan. Country setting with mature Live Oak trees, yet close to town. Ten mobile units and one apartment all park owned. All units well-maintained. Many stable, long-term tenants. One brand new a/c and several newer units. Many units have new roofs and drain fields. New paint on one exterior unit and two porches. One unit in process of roof-over. Installed garden tub in one unit, new tile floor, carpet and interior paint in several units. 11x11 metal storage shed with a/c and heat and enclosed garage attached to the apartment.

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Park Information

Community Type: All Age
Number of MH Lots: 10
Total Occupancy: 98.0 %
Average MH Lot Rent: $575
Size: 4 acre(s)

Financial Information

Gross Income: $72,000
Operating Expense: $18,620
Net Operating Income: $54,380
Expense Ratio: 25.9 %

RV Information

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

Utility Information

Water: Well
Water Paid By: Park
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 11
Average Rent for Park-owned Homes: $575

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