Mobile Home Park Details
- Purchase Method: New Loan
- Cap Rate: 11.8%
- Listing ID: 516389
- Posted On: Apr 8, 2015
- Updated On: Feb 4, 2016
Description
This 1970s built MHP consists of 73 rental mobile homes. The community is situated on approximately 7.61 acres on US1. Last year the owner claims to have spent over $300,000 in capital improvements including 10 homes to fill vacant sites. As of April 2015 the park is100 percent occupied. The homes in the community are well cared for and most have been recently renovated. The park is serviced by an WWTP and a private well.
Amenities
- Laundromat
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Park Information
| Community Type: | All Age |
| Number of MH Lots: | 73 |
| Total Occupancy: | 100.0 % |
| Year Built: | 1970 |
| Average MH Lot Rent: | $611 |
| Size: | 8 acre(s) |
Financial Information (Actual)
| Gross Income: | $499 |
| Operating Expense: | $240 |
| Net Operating Income: | $258 |
| Expense Ratio: | 48.1 % |
| Debt Info: | New Loan Required |
Lot Information
| Singlewide Lots: | 67 |
RV Information
| Number of RV Lots: | 6 |
| Average RV Lot Rent: | $580 |
Utility Information
| Water: | Well |
| Water Paid By: | Park |
| Sewer: | Treatment Plant |
Park-Owned Homes
| Number of Park-owned Homes: | 73 |
| Average Rent for Park-owned Homes: | $608 |
