Contact Information

Mobile Home Park Details

  • Price: $1,720,000
  • Purchase Method: Cash, New Loan
  • Land: This is land for developing a mobile home park
  • Cap Rate: 8.0%
  • Property ID: 1019538
  • Posted on Jan 2, 2019

Property Description

40 Mobile Homes sites Denham Springs, LA. All Mobile Homes are owned by the sellers and included with sale. Clean, moderately rural location near I-12, amenities include brand new Our Lady of the Lake Hospital and Wal-Mart, 2 miles away. The Park is well maintained by the owners---No smoking---No pets are allowed in the Park. No Mobile Homes took water during the August 2016 Flood. The sellers have been approved by the parish to build an additional 16 Mobile Homes (Phase 2) on the remaining undeveloped land. This will provide a great upside for additional cash flow, allowing new owner to build out to a total of 56 lots! *7 of the 40 mobile homes on site are not currently being offered for rent, because the owners are systematically swapping them out for newer units due to their age.

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Park Information

Community Type: All Age
Number of MH Lots: 40
Total Occupancy: 83.0 %
Average MH Lot Rent: $800
Size: 7.5 acre(s)

Financial Information (Actual)

Gross Income $229,181
Operating Expense $82,867
Net Operating Income $146,314
Expense Ratio 36.2 %
Debt Info

Lot Information

Singlewide Lots: 40
Doublewide Lots: 0
Triplewide Lots: 0
Park Model Lots: 0

RV Information

Number of RV Lots: 0
Average RV Lot Rent: $0

Utility Information

Water: City
Water Paid By: Park
Sewer: Treatment Plant

Park-Owned Homes

Number of Park-owned Homes: 40
Average Rent for Park-owned Homes: $615

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