Mobile Home Park Details

  • Purchase Method: Cash, Seller Financing, New Loan
  • Cap Rate: 11.5%
  • Property ID: 1007312
  • Posted On: Nov 12, 2018
  • Updated On: Jun 21, 2019

Property Description

This 48 site MHP has an interesting upside. Sitting on 55 acres, the property currently has 17 sites ready for homes, while the remaining 31 sites will need septic for completion.

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Park Information

Community Type: All Age
Number of MH Lots: 48
Total Occupancy: 7.0 %
Year Built: 1980
Average MH Lot Rent: $350
Size: 55 acre(s)

Financial Information (Actual)

Gross Income $51,000
Operating Expense $16,650
Net Operating Income $34,350
Expense Ratio 32.6 %
Debt Info

Lot Information

Doublewide Lots: 48

Utility Information

Water: Well
Water Paid By: Park
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 6
Average Rent for Park-owned Homes: $650

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