Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 8.0%
  • Listing ID: 519066
  • Posted On: Apr 28, 2015
  • Updated On: Aug 17, 2015

Description

A 26 space park with a stick built home and single level apartment on City water/sewer. An easy to run park primarily singlewide older mobiles in Reedsport. Expenses are low as there are no common areas to maintain except the roads. Part of the sewer/water charges are paid by the park tenants. Rent is $350 a month with $500-$600 month for the 4 park owned rental homes plus $800 for the stick-built house. excellent upside growth for rents and in filling 3-4 vacancies. Motivated Out Of State Sellers.

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Park Information

Number of MH Lots: 26
Total Occupancy: 90.0 %
Year Built: 0
Average MH Lot Rent: $350
Size: 2 acre(s)

Financial Information (Actual)

Gross Income: $133,432
Operating Expense: $81,428
Net Operating Income: $52
Expense Ratio: 61.0 %
Debt Info: -

Utility Information

Water: City
Water Paid By: Park
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 4
Average Rent for Park-owned Homes: $550