Owner's Double Wide
Owner's Double Wide
Out Building With RV Storage
Out Building With RV Storage
Driveway Under Grand-daddy Oak Tree
Driveway Under Grand-daddy Oak Tree
Paved Road Frontage
Paved Road Frontage
Lime Rock Driveways Inside Park
Lime Rock Driveways Inside Park
Owner's Double Wide
Out Building With RV Storage
Driveway Under Grand-daddy Oak Tree
Paved Road Frontage
Lime Rock Driveways Inside Park

Mobile Home Park Details

  • Purchase Method: Cash
  • Cap Rate: 10.0%
  • Listing ID: 542527
  • Posted On: Jun 17, 2015
  • Updated On: Mar 18, 2022

Description

This is a clean, well-established park with a low turnover of tenants. All units are owned by the park and are rented on a monthly basis. The units are 14' wide mobile homes and one 16 wide home. On the back of the property there is a large double wide that is currently occupied by the owner. (The double wide is calculated into the Pro Forma figures.) Nearby is a 13' x 20' out-building with an attached roof for RV parking, a deer fenced garden area, and a fishing pond. A 20' x 50' building on a concrete slab is used for maintenance and storage. Water comes from a deep, licensed private well with a 1000 gallon water tank. There are thirteen septic tanks on the property. The property is in two parcels; the park is on 2.75 acres and the owner’s residence is on 12.44 acres. Under zoning regulations, for what is called a "mother-in-law's quarters" an additional MH could be added on the back parcel.

Location

The property is located on a paved road. The property stays nearly 100% rented year round. All units are park owned and the units are very well maintained. The property is in a clean, quiet, rural area. Shopping, schools, hospitals, and services are only 7 miles away in Lake City.

Amenities

  • Storage
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Park Information

Community Type: All Age
Number of MH Lots: 13
Total Occupancy: 95.0 %
Year Built: 0
Average MH Lot Rent: $589
Size: 15 acre(s)

Financial Information (Pro Forma)

Gross Income: $72,789
Operating Expense: $20,000
Net Operating Income: $52,789
Expense Ratio: 27.5 %
Debt Info: debt free

Lot Information

Singlewide Lots: 12
Doublewide Lots: 1

Utility Information

Water: Well
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 13
Average Rent for Park-owned Homes: $589

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