Lots 1 and 3
Lots 1 and 3
Lots 41 - 43 SW corner
Lots 41 - 43 SW corner
Lots 1 and 3
Lots 41 - 43 SW corner

Mobile Home Park Details

  • Purchase Method: Cash, Seller Financing, New Loan
  • Cap Rate: 15.0%
  • Listing ID: 470400
  • Posted On: Sep 11, 2014
  • Updated On: Jun 16, 2015

Description

Cash-on-cash return (pro forma) is OVER 30%! Price is based on actual cash flow at a 15 cap. Data shown is based on pro forma assuming rehab on empty units. For actual 2015 data see our listing on LoopNet. Park is 2.5 acres. 45 mobile homes and 3 concrete block homes and 2 empty spaces. Plenty of upside for buyer. The houses are 1, 2, and 3- bedroom. About half the mobiles have more than one bedroom. I will do 50% financing with half down. We split closing costs 50/50 unless you use a broker or lawyer; that's on you.

Amenities

  • Laundromat
Interested in purchasing this mobile home park? Get pre-qualified for a loan.

Park Information

Community Type: All Age
Number of MH Lots: 50
Total Occupancy: 90.0 %
Year Built: 1962
Average MH Lot Rent: $665
Size: 3 acre(s)

Financial Information (Pro Forma)

Gross Income: $329,674
Operating Expense: $53,118
Net Operating Income: $276,556
Expense Ratio: 16.1 %
Debt Info: Mortgage not assumable

Lot Information

Singlewide Lots: 45

Utility Information

Water: City
Water Paid By: Park
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 42
Average Rent for Park-owned Homes: $600

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