Ample commercial and overflow parking
Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Land: This is land for developing a mobile home park
- Cap Rate: 8.5%
- Listing ID: 520333
- Posted On: May 5, 2015
- Updated On: May 29, 2016
Description
Currently a 30 Pad MHP with 14 lease able Pads and 14 Park owned units and a +-2,000 Sf commercial building on the front parcel being used as a cocktail lounge. Property is currently 60% occupied and with a capital infusion and good property management can be a cash cow.
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Park Information
| Community Type: | All Age |
| Number of MH Lots: | 30 |
| Total Occupancy: | 60.0 % |
| Year Built: | 1980 |
| Average MH Lot Rent: | $410 |
| Size: | 5 acre(s) |
Financial Information (Pro Forma)
| Gross Income: | $99,000 |
| Operating Expense: | $24,000 |
| Net Operating Income: | $75,000 |
| Expense Ratio: | 24.2 % |
Lot Information
| Singlewide Lots: | 28 |
| Doublewide Lots: | 2 |
| Triplewide Lots: | 0 |
| Park Model Lots: | 0 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Submetered |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 14 |
| Average Rent for Park-owned Homes: | $500 |
