Mobile Home Park Details
- Purchase Method: Cash, Seller Financing, New Loan, Assumable Loan
- Cap Rate: 13.5%
- Listing ID: 513685
- Posted On: Mar 18, 2015
- Updated On: Dec 1, 2016
Description
Motivated Sellers. Strong cap rate. Assumable land contract, city water/sewer and is metered. For more information visit our website at www.birchrealty.com, this will be listing #116 on our site. Feel free to contact us at stan1@birchrealty.com or 248-740-9490
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: | 37 |
| Total Occupancy: | 75.0 % |
| Year Built: | 1975 |
| Average MH Lot Rent: | $215 |
| Size: | 15 acre(s) |
Financial Information (Actual)
| Gross Income: | $111,000 |
| Operating Expense: | $33,500 |
| Net Operating Income: | $77,500 |
| Expense Ratio: | 30.2 % |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Individual Service |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 17 |
| Average Rent for Park-owned Homes: | $400 |
