Owner's Home or Rental
Owner's Home or Rental
Owner's Home or Rental
Owner's Home or Rental
Owner's Home or Rental
Owner's Home or Rental
Mobile Home Park
Mobile Home Park
RV Park
RV Park
Storage Rentals
Storage Rentals
Storage Rentals
Storage Rentals
Storage Rentals
Storage Rentals
Owner's Home or Rental
Owner's Home or Rental
Owner's Home or Rental
Mobile Home Park
RV Park
Storage Rentals
Storage Rentals
Storage Rentals

Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 9.6%
  • Listing ID: 546181
  • Posted On: Jul 8, 2015
  • Updated On: May 21, 2016

Description

This property is an amazing find with multiple streams of income and nearly perfect condition. The 8 lot mobile home park has 5 very nice park owned homes and 3 owner occupied homes. Each home is in great condition with a well qualified, long term tenant. The 8 lot RV park has workers from the area and no nightly or weekend campers to deal with. The entire property is on city water and city sewer! Next are 3 storage buildings that bring in over $700 per month. Finally, the owner's house is an amazing 4 bedroom, totally remodeled home with a two bedroom apartment with kitchen and bath and its own separate entrance. This property has it all: Amazing condition, city utilities, multiple streams of income and a great home and apartment to be used as a residence or more rental income.

Financials:
This beautiful home is set up as a 4 bedroom owner's home with a two bedroom apartment in the back with its own kitchen and bath. The home will easily rent for $800 or more with the apartment bringing in at least $495. The mobile home park adds $3,050 per month and the 5 nice park owned homes come with the deal! The mobile homes included in the deal are valued at 50,000. The RV Park contributes $1,100 per month on average with a soda machine adding another $100 per month. Finally, the 3 storage buildings add $720 per month. That totals up to $75,180 per year in income with only $10,300 in expenses for a Net Operating Income of $64,880! The park, house and storage buildings are in nearly perfect condition and all for only $675,000.

Call Trent Conaway at (317) 844-4684 for more information and to see this great property.

Interested in purchasing this mobile home park? Get pre-qualified for a loan.

Financial Information (Pro Forma)

Gross Income: $75,180
Operating Expense: $10,300
Net Operating Income: $64,880
Expense Ratio: 13.7 %

Lot Information

Singlewide Lots: 8

RV Information

Number of RV Lots: 10

Utility Information

Water: City
Sewer: City

Other Listings by Mark Wisely