Mobile Home Park Details
- Purchase Method: Seller Financing
- Cap Rate: 9.6%
- Listing ID: 702707
- Posted On: Sep 4, 2016
- Updated On: Jan 17, 2017
Description
PRIDE OF OWNERSHIP! This Owner Occupied, Owner Built, Owner Maintained is the absolute Landlords/Investor's Dream!
SELLER FINANCING with $225,000 Down and finance the balance at 5% interest only for 4 years
Expenses are extremely low due to the following. All Utilities including City water are billed direct to the tenant by the Utility Company. Each resident maintains their own yards.
Streets are paved and the taxes are unusually low. All Park Owned homes are extremely well maintained and rehabbed. This Park is on auto-pilot.
There is a HUGE UPSIDE due to under market rents on both Lots and Homes!
SEE PACKET ATTACHED
5 Minutes to Lowes, Walmart and Community College. 10 minutes to Interstate 40. 30 minutes to ASHEVILLE.
Interested in purchasing this mobile home park? Get pre-qualified for a loan.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 16 |
| Total Occupancy: | 96.0 % |
| Year Built: | 2000 |
| Average MH Lot Rent: | $145 |
| Size: | 9 acre(s) |
Financial Information (Actual)
| Gross Income: | $59 |
| Operating Expense: | $7 |
| Net Operating Income: | $49 |
| Expense Ratio: | 11.9 % |
Lot Information
| Singlewide Lots: | 14 |
| Doublewide Lots: | 2 |
| Triplewide Lots: | 0 |
| Park Model Lots: | 0 |
RV Information
| Number of RV Lots: | 0 |
| Average RV Lot Rent: | $0 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Individual Service |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 10 |
| Average Rent for Park-owned Homes: | $575 |
