Mobile Home Park Details
- Purchase Method: Cash
- Cap Rate: 11.0%
- Listing ID: 813946
- Posted On: May 16, 2017
- Updated On: Jun 17, 2018
Description
this nice 2 acre park lies on major thoroughfare with over 100 ft. of commercial frontage. this park is high and dry with a variety of lot rentals and park owned units. the owner pays water and total expenses are $14,400/yr..the park has 13 pads and an 'in park' manager...the park is netting $60k/yr. now...sales price is $475k all cash.. land comparables show similar sales of around 200k/acre in this area.. this is an 11% return...See my other listings at WWW.EMCPARKS.COM
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Park Information
| Community Type: | All Age |
| Number of MH Lots: | 13 |
| Total Occupancy: | 100.0 % |
| Year Built: | 0 |
| Average MH Lot Rent: | $425 |
| Size: | 2 acre(s) |
Financial Information (Actual)
| Gross Income: | $74 |
| Operating Expense: | $14 |
| Net Operating Income: | $60 |
| Expense Ratio: | 18.9 % |
| Debt Info: | none |
Lot Information
| Singlewide Lots: | 7 |
| Doublewide Lots: | 4 |
RV Information
| Number of RV Lots: | 2 |
| Average RV Lot Rent: | $325 |
Utility Information
| Water: | City |
| Water Paid By: | Park |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 7 |
| Average Rent for Park-owned Homes: | $525 |