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Park Owned Home
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Park Owned Home
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Mobile Home Park Details
- Purchase Method: Cash
- Cap Rate: 14.8%
- Listing ID: 521574
- Posted On: May 8, 2015
- Updated On: Nov 14, 2016
Description
14.8% CAP RATE! CASH OFFERS ONLY PLEASE! Selling to settle estate. Great Oakland County location on this 32 space older park with 2 bedroom stick built apartment over coin operated laundry. 23 mobile homes are park owned. 315 foot frontage on Inkster Road includes 115 feet of buildable vacant land. 280 foot frontage on Rensselaer Street. Please do not disturb occupants. PRIME LOCATION FOR FUTURE REDEVELOPMENT close to new condos and $160M Botsford Hospital expansion.
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: | 33 |
| Total Occupancy: | 80.0 % |
| Year Built: | 1952 |
| Average MH Lot Rent: | $325 |
| Size: | 2 acre(s) |
Financial Information (Actual)
| Gross Income: | $116,000 |
| Operating Expense: | $42,000 |
| Net Operating Income: | $74,000 |
| Expense Ratio: | 36.2 % |
Lot Information
| Singlewide Lots: | 32 |
| Doublewide Lots: | 0 |
| Triplewide Lots: | 0 |
| Park Model Lots: | 0 |
RV Information
| Number of RV Lots: | 0 |
Utility Information
| Water: | City |
| Water Paid By: | Park |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 23 |
| Average Rent for Park-owned Homes: | $425 |
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