Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park

Mobile Home Park Details

  • Purchase Method: Cash, Seller Financing
  • Cap Rate: 11.4%
  • Listing ID: 505615
  • Posted On: Jan 27, 2015
  • Updated On: Apr 1, 2015

Description

Excellent potential for this 47 space mobile home park that has 40 park owned homes, a 3+2 double wide and 5 lot rentals. There is also a workshop and storage.
The homes are smaller 2+1's and most require refurbishing anywhere from minimum to major and the park is being sold "as is"
There are currently 10 units occupied grossing $2875 a month which is a 11.4% cap at this price even with the low occupancy. 5 of the units are tenant owned and the other 5 are monthly rentals. The park is on city water and sewer and asphalt road throughout park.
With $30K down, I will owner finance at 7% amortized for 15 years, due in 3 years.
It's a bit of a fixer but the potential is obviously great.

The park is located in the University town of Martin, TN. and is walking distance to the university, shopping, restaurants and walmart.

Contact: gregoryharms@gmail.com (818) 398-4075

Amenities

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

Park Information

Community Type: All Age
Number of MH Lots: 47
Size: 2 acre(s)

Financial Information (Actual)

Gross Income: $34
Operating Expense: $14,480
Net Operating Income: $20,020
Expense Ratio: 42588.2 %

Lot Information

Singlewide Lots: 46
Doublewide Lots: 1

Utility Information

Water: City
Water Paid By: Park
Sewer: City

Similar Mobile Home Parks for Sale