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Darryl Napolitano

Haag Brown Commercial

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Midway Mobile Home Park

Multi Family Housing for Sale in Springdale, Arkansas

3810 S Thompson St
Springdale, AR 72764

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Sale Price: $1,800,000

Contact Information

Darryl Napolitano
Haag Brown Commercial

Mobile Home Park for Sale

Number of MH Lots: 42
Size: 4.5 acre(s)
Cap Rate: 7.5%
Status: Active
Property ID: 686563
Posted on: Jul 12, 2016
Updated on: Apr 12, 2017
Price: $1,800,000

Property Description

Midway Mobile Home Park is projected to produce an noi of $136,000 over the next year making for a CAP Rate of 7.5%. This is a quiet, well established residential community along Highway 71B.

The park is comprised of 42 mh lots with 41 owned homes. This mobile home property was grandfathered into a zoning that you cannot get within several miles. For this reason, year after year, Midway occupies all 42 mobile home lots.

Park Information

Number of MH Lots:42
Total Occupancy:100.0%
Average MH Lot Rent: $500
Size:4.5 acre(s)

Financial Information (Actual)

Gross Income$297,000
Operating Expense$160,700
Net Operating Income$136,300
Expense Ratio 54.1%
Debt Info

Lot Information

Singlewide Lots:42

Utility Information

Water Paid By: Park

Park-Owned Homes

Number of Park-owned Homes:41
Average Rent for Park-owned Homes: $500

Zip codes in Springdale, AR

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