Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 6.5%
- Listing ID: 470884
- Posted On: Sep 17, 2014
- Updated On: Dec 1, 2014
Description
Mobile home park with 38 occupied lots and total of 60 lots. Plenty of upside filling vacant lots and raising rents over time.
7 Park owned homes for additional income. Stay rented. Tremendous demand for rentals. 15 Self Storage Units stay full!
City water, city sewer. Park currently pays water/sewer bill.
More upside by sub-metering and slashing the biggest expense!
Excellent location minutes from Lake Mac.
Waiting list to move into park.
An aggressive owner will bring in more homes and fill the park.
New Super Walmart is being built in the town. New Ace hardware, Dollar Tree store. Lots of growth.
Can add additional storage on premises for Boats etc...
Close to Interstate - I-80.
Recent commercial development should mean more demand for rentals and high rents.
Easy to run property, manager on premises.
Relaxing 3 Hour drive from Denver.
Amenities
- Storage
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 60 |
| Total Occupancy: | 65.0 % |
| Year Built: | 1970 |
| Average MH Lot Rent: | $200 |
| Size: | 11 acre(s) |
Financial Information (Actual)
| Gross Income: | $114,120 |
| Operating Expense: | $49,445 |
| Net Operating Income: | $64,675 |
| Expense Ratio: | 43.3 % |
Lot Information
| Singlewide Lots: | 56 |
| Doublewide Lots: | 4 |
Utility Information
| Water: | City |
| Water Paid By: | Park |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 7 |
| Average Rent for Park-owned Homes: | $475 |