Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 10.4%
  • Listing ID: 513364
  • Posted On: Mar 14, 2015
  • Updated On: Oct 8, 2015

Description

The asking price is $14,150.00 per pad. The majority of the property has new streets and landscaping. This is a JOB for the first 24 to 36 months. The park is 39.6% vacant (63 units are not currently producing income) and it still Cap's at 10.1 based on the 2014 Net operating Income!! The community is on all city services and currently is comprised of the following; 35 tenant owned homes, 23 vacant sites, 42 rental homes, 15 rent to own contracts, 10 rentals that need to be fixed up, 23 homes that need to be trashed, 6 apartments, 4 sites that are used by management, and one single family house. The ACTUAL NOI for 2014 is $227,803.00 based on a 44.6% expense factor to gross. Casa Grande is between Phoenix & Tucson right off of Interstate 10.

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Park Information

Community Type: All Age
Number of MH Lots: 159
Size: 13 acre(s)

Utility Information

Water: City
Water Paid By: Tenant - Submetered
Sewer: City

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