Typical unit
Mobile Home Park Details
- Purchase Method: Assumable Loan
- Cap Rate: 10.0%
- Listing ID: 484457
- Posted On: Nov 14, 2014
- Updated On: May 19, 2015
Description
Older park with the potential for 60+ spaces, with 40 homes in place. Mostly single wides from the 60-80's vintage. Currently there are 30 rented spaces, including 25 park owned homes. Income usually between $125-135,000 per year.
Location
Across from Reese Industrial Park, Golf Course and homes. On Highway to Levelland. Near proposed outer Loop.
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: | 54 |
| Total Occupancy: | 75.0 % |
| Year Built: | 1966 |
| Average MH Lot Rent: | $225 |
| Size: | 8 acre(s) |
Financial Information
| Gross Income: | $130,000 |
| Operating Expense: | $110,000 |
| Net Operating Income: | $20,000 |
| Expense Ratio: | 84.6 % |
| Debt Info: | 120000 @ 8% amortized |
Lot Information
| Singlewide Lots: | 60 |
Utility Information
| Water: | Well |
| Water Paid By: | Park |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 40 |
| Average Rent for Park-owned Homes: | $390 |