Mobile Home Park Details

  • Purchase Method: Cash, Seller Financing
  • Listing ID: 658148
  • Posted On: Apr 21, 2016
  • Updated On: Jul 5, 2016

Description

Sandell Mobile Home Park is situated on 21.4 acres with 52 occupied lots,19 unoccupied lots with water/sewer & electric and an additional 30 spaces that could be developed. In addition, there are 5 lots occupied by the office/residence, shop building and large storage building. At present there are 36 park owned homes and 16 resident owned homes. The current owners have elected not to add additional homes at this time thereby affording new owners the opportunity to add For Sale or Rental homes. The average mobile home rent is $655. with lot rents averaging $295. There is 1 home on a note with payments of %545 including escrow. The Park is serviced by City utilities with water/sewer & trash included in the rent. These utilities could easily be sub-metered or prorated to provide additional income.

Sandell Mobile Home Park is considered to be the best park in the community with great growth potential. As rental homes become vacant, they are repaired or refurbished in order to provide acceptable homes for new residents. This practice has proven to reduce future vacancy costs thereby allowing the park to have a high occupancy

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Park Information

Community Type: All Age
Number of MH Lots: 101
Total Occupancy: 52.0 %
Year Built: 1985
Average MH Lot Rent: $295
Size: 21 acre(s)

Financial Information (Actual)

Gross Income: $350
Operating Expense: $212
Net Operating Income: $137
Expense Ratio: 60.6 %
Debt Info: N/A

Lot Information

Singlewide Lots: 101

Utility Information

Water: City
Water Paid By: Park
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 36
Average Rent for Park-owned Homes: $655