Mobile Home Park Details

  • Purchase Method: Cash, Seller Financing, New Loan
  • Cap Rate: 16.0%
  • Listing ID: 637779
  • Posted On: Feb 24, 2016
  • Updated On: Mar 1, 2017

Description

2 Parks side by side for the price of one. First park consists of 10 single wides and 2 duplexes. Second park has 3 single wides and 1 house. Tenant is responsible for separately metered electric and city water. Total current monthly rent is $4750 per month with room for a $25 to $50 monthly increase per unit. Management is available. Current owner is retiring and will consider financing.

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Park Information

Community Type: All Age
Number of MH Lots: 18
Total Occupancy: 95.0 %
Year Built: 2003
Average MH Lot Rent: $264
Size: 2 acre(s)

Financial Information

Gross Income: $57,000
Operating Expense: $12
Net Operating Income: $44
Expense Ratio: 0.0 %
Debt Info: No debt

Lot Information

Singlewide Lots: 18

Utility Information

Water: City
Water Paid By: Tenant - Individual Service
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 18
Average Rent for Park-owned Homes: $264