Mobile Home Park Details
- Purchase Method: New Loan
- Cap Rate: 10.6%
- Listing ID: 517491
- Posted On: Apr 17, 2015
- Updated On: May 15, 2015
Description
TRUE 10.6 CAP park. 73-site park with 67 owner-occupied and 5 LP/rental tenants. New loan financing IS available. Excellent infrastructure, city water and individual septics. 12 year manager will stay, if asked. Stable-as-a-rock coupon clipper, perfect for passive investor. Call today, you'll be glad you did!
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Park Information
| Community Type: | All Age |
| Number of MH Lots: | 73 |
| Total Occupancy: | 98.0 % |
| Year Built: | 1970 |
| Average MH Lot Rent: | $270 |
| Size: | 19 acre(s) |
Financial Information (Actual)
| Gross Income: | $245 |
| Operating Expense: | $45 |
| Net Operating Income: | $200 |
| Expense Ratio: | 18.4 % |
| Debt Info: | N/A |
Lot Information
| Doublewide Lots: | 73 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Individual Service |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 2 |
| Average Rent for Park-owned Homes: | $250 |