Mobile Home Park Details
- Purchase Method: Cash
- Cap Rate: 11.0%
- Listing ID: 816611
- Posted On: May 24, 2017
- Updated On: Sep 1, 2017
Description
Park has all city utils and sep/metered for water with new digital water meters which are nice..park has 49 sites with 6 vacant lots..the 43 rented breakdown consist of 33 park owned units and 10 lot rentals...lot rent is $275/lot.. this park isn't pretty but just makes money with working folks..park has a balance of tenant demo representation..park netted $147k last year..seller is asking $1.3 million cash..make an offer....SEE THIS PARK AND OTHERS AT EMCPARKS.COM
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Park Information
| Community Type: | All Age |
| Number of MH Lots: | 49 |
| Total Occupancy: | 85.0 % |
| Year Built: | 1980 |
| Average MH Lot Rent: | $275 |
| Size: | 9 acre(s) |
Financial Information (Actual)
| Gross Income: | $201 |
| Operating Expense: | $54 |
| Net Operating Income: | $147 |
| Expense Ratio: | 26.9 % |
Lot Information
| Singlewide Lots: | 49 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Submetered |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 33 |
| Average Rent for Park-owned Homes: | $425 |