Mobile Home Park Details
- Purchase Method: Cash, Seller Financing, New Loan
- Cap Rate: 8.5%
- Listing ID: 537260
- Posted On: May 26, 2015
- Updated On: Mar 6, 2018
Description
Kelvin MHP is a 22 space park with one park owned mobile home. There is one double wide home that occupies two spaces. The homes are mostly single wide, with three RV size spaces. The gas and electric are directly billed by the utility company and the water and sewer is master metered with separate meters at each space. It is on city of Tucson Water and Sewer. The park pays for the trash collection. The park is clean and well maintained. This is a perfect starter MHP for the new investor. There is seller financing available with a 30% down payment.
Location
The property is located on the near north-side of Tucson, Arizona. It is in an area of single family homes and commercial development. The location offers the residents easy access to shopping, banks, hospitals and schools.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 22 |
| Total Occupancy: | 95.0 % |
| Year Built: | 1975 |
| Average MH Lot Rent: | $280 |
| Size: | 2 acre(s) |
Financial Information (Actual)
| Gross Income: | $77,878 |
| Operating Expense: | $28,662 |
| Net Operating Income: | $49,216 |
| Expense Ratio: | 36.8 % |
| Debt Info: | none |
Lot Information
| Singlewide Lots: | 18 |
| Doublewide Lots: | 1 |
RV Information
| Number of RV Lots: | 3 |
| Average RV Lot Rent: | $280 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Submetered |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 1 |
| Average Rent for Park-owned Homes: | $600 |