Mobile Home Park Details

  • Purchase Method: New Loan
  • Land: This is land for developing a mobile home park
  • Cap Rate: 10.5%
  • Listing ID: 499433
  • Posted On: Dec 29, 2014
  • Updated On: Apr 3, 2015

Description

Nice park located in town. Has 119 lots with one stick built home,has on sight office\shop and 40x60 two story warehouse. Off street parking, city water and sewer.Located on 17 acres. Park has 55 home owner lots and 43 park owned homes.Avg. rent is 450 and lot rent is 175.No lot rent increase for years. Park has a lot of upside potential. Seller is motivated.

View on Google maps:

https://www.google.com/maps/place/1500+E+Main+Cross+St,+Taylorville,+IL+62568/@39.5496103,-89.2814334,3a,75y,188.6h,90t/data=!3m4!1e1!3m2!1swocvMcPN40gV_hohiPsRMw!2e0!4m2!3m1!1s0x8874e5cbcfa85973:0x3a5d39d2f656b6e9

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Park Information

Community Type: All Age
Number of MH Lots: 119
Total Occupancy: 85.0 %
Year Built: 70
Average MH Lot Rent: $175
Size: 17 acre(s)

Financial Information (Actual)

Gross Income: $300,000
Operating Expense: $100,000
Net Operating Income: $200,000
Expense Ratio: 33.3 %

Utility Information

Water: City
Water Paid By: Tenant - Individual Service
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 43
Average Rent for Park-owned Homes: $450

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