Contact Information

Mobile Home Park Details

  • Price: $329,000
  • Purchase Method: Cash, Seller Financing, New Loan
  • Cap Rate: 9.5%
  • Property ID: 1022990
  • Posted On: Jan 14, 2019
  • Updated On: Jun 25, 2020

Property Description

Park currently has 9 prepared spaces with 8 homes all belonging to the park. There is 8.88 acres with room for easy expansion. All homes have been HUD inspected/approved for Section 8 rentals should you wish to continue to use this program. Owner is willing to consider interim financing for up to 5 years with a minimum $60K down . There are 3 - 3BR - 2BA, 1 - 3BR - 1BA, 3 - 2BR - 1BA and 1 5BR - 2BA homes. Park consistently grosses approximately $4000 per month. Owner currently pays water and garbage. Most homes have their own water meters if you should want to transfer this expense. Lighthouse Estates Mobile Home Park sits on 8.88 acres and currently has 9 lots prepared. There are 8 homes included in the sale, consisting of 3 - 3BR - 2BA, 1 - 3BR - 1BA, 3 - 2BR - 1BA and 1 - 5BR - 2BA. Owner is currently paying Garbage and Water. All homes have been inspected and approved for use in the HUD Section 8 program should you wish to continue. There is room to add many additional units .

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Park Information

Community Type: All Age
Number of MH Lots: 9
Total Occupancy: 100.0 %
Average MH Lot Rent: $525
Size: 9 acre(s)

Financial Information (Actual)

Gross Income $48,500
Operating Expense $15,747
Net Operating Income $31,335
Expense Ratio 32.5 %
Debt Info no debt

Utility Information

Water: City
Water Paid By: Park
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 8
Average Rent for Park-owned Homes: $550

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