Contact Information

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.

Mobile Home Park Details

  • Price: $4,900,000
  • Purchase Method: Cash, New Loan, Assumable Loan
  • Cap Rate: 7.5%
  • Property ID: 1004433
  • Posted on Nov 2, 2018

Amenities

  • Laundromat
Interested in purchasing this mobile home park? Get pre-qualified for a loan.

Park Information

Community Type: All Age
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