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Marshall Jackson

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Little Rock, AR MHP

Mobile Home Community for Sale in Little Rock Metro Area, Arkansas

Little Rock Metro Area, AR
Sale Price: $4,900,000

Contact Information

Marshall Jackson

Mobile Home Park for Sale

Number of MH Lots: 190
Size: 40 acre(s)
Cap Rate: 7.5%
Purchase Method: Cash, New Loan, Assumable Loan
Status: Active
Property ID: 1004433
Posted on: Nov 02, 2018
Updated on: Nov 08, 2018
Price: $4,900,000

Property Description

This 190-space park is on 30 acres + 10 acres of contiguous undeveloped land with plans for another 75 spaces. The park currently has 104 Park-owned homes, 8 homes being park-financed, 59 tenant-owned homes, and 19 vacant spaces. The roads are all paved w/ rolled curbs and storm drains. All utilities are city owned and each tenant pays their own utility bills directly with the service providers. Average monthly revenue over the last 12 months is over $68,000.

Park Information

Number of MH Lots:190
Total Occupancy:90.0%
Average MH Lot Rent: $225
Size:40.0 acre(s)

Financial Information (Actual)

Gross Income$810,000
Operating Expense$440,000
Net Operating Income$370,000
Expense Ratio 54.3%
Debt Info

Lot Information

Singlewide Lots:188
Doublewide Lots:2

Park-Owned Homes

Number of Park-owned Homes:104
Average Rent for Park-owned Homes: $550

Amenities and Other

Laundromat: Yes