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: Seller Financing
- Cap Rate: 7.5%
- Listing ID: 513398
- Posted On: Mar 16, 2015
- Updated On: Apr 30, 2015
Description
NEW LISTING! CLEAN, CLEAN, CLEAN!
Owner financing available for qualified buyers.
59 pad MHP in Covington, TN, just outside of Memphis. City sewer and water, all units separately metered for water and electric. Below market rents with good tenant mix. 35 lot renters, 20 park-owned homes, 4 vacant pads.
Please review entire Marketing Package attached to this listing and call for any other information.
Thanks for your consideration.
Offered at $900,000
Interested in purchasing this mobile home park? Get pre-qualified for a loan.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 59 |
| Total Occupancy: | 92.0 % |
| Year Built: | 1972 |
| Average MH Lot Rent: | $180 |
| Size: | 7 acre(s) |
Financial Information (Actual)
| Gross Income: | $168,799 |
| Operating Expense: | $49,265 |
| Net Operating Income: | $119,534 |
| Expense Ratio: | 29.2 % |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Submetered |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 20 |
| Average Rent for Park-owned Homes: | $450 |