Contact Information

Mobile Home Park Details

  • Price: $329,000
  • Purchase Method: Cash, New Loan
  • Cap Rate: 9.5%
  • Property ID: 1022990
  • Posted On: Jan 14, 2019
  • Updated On: Dec 16, 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. Most of the homes are currently rented under contract with the HUD Section 8 program and plan to remain there. 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 Park owned 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. There is room to add many additional units .

Location

Quiet rural area outside city limits of Boaz but in the Sardis School district. Easy drive to Gsdsden.

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Park Information

Community Type: All Age
Number of MH Lots: 9
Total Occupancy: 100.0 %
Average MH Lot Rent: $550
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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