Mobile Home Park Details

  • Purchase Method: Seller Financing
  • Cap Rate: 12.0%
  • Listing ID: 694947
  • Posted On: Aug 8, 2016
  • Updated On: Jun 12, 2017

Description

this nice little quaint park lies on 3.68 acres and has been around since the 60's. the park has 22 small 2 br units rented now and one lot rented and there are 3 vacant lots...rents have not been raised in years. the park is all sep metered too with grey gravel streets...The old home place is inpark and rented for $500/mo. There is a grocery store and restaurant across the street anddowntown is closeby and everything is nice and quiet. owners are selling to retire...they will finanace for a few years with 100k down. and other good terms..park is netted over $73k last year....see this and more at EMCATLANTA.COM

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Park Information

Community Type: All Age
Number of MH Lots: 26
Total Occupancy: 88.0 %
Year Built: 1969
Average MH Lot Rent: $375
Size: 4 acre(s)

Financial Information (Actual)

Gross Income: $89,400
Operating Expense: $15,665
Net Operating Income: $73,734
Expense Ratio: 17.5 %
Debt Info: none

Lot Information

Singlewide Lots: 26

Utility Information

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

Park-Owned Homes

Number of Park-owned Homes: 23
Average Rent for Park-owned Homes: $375