Contact Information

Mobile Home Park Details

  • Price: $275,000
  • Purchase Method: Cash
  • Property ID: 1034281
  • Posted on Feb 19, 2019

Property Description

Serinity MH Community, 35 LOTS ON CITY WATER AND CITY SEWER. $275k Yes, the income does not justify the price. You are buying a value added community. There are 35 lots on city water and city sewer, a rarity. Everything is billed to the tenant from the city. You have no utilities. Presently there are 8 tenants with 7 TOH. Lot rents are far below national average, $150. There is HUGE upside to this deal by bringing in new homes and paving roads. Let me show you how to create a $1.1M valuation in this community, not including the value of the new homes. To be successful, you will need at least $300K CAPX. $270k to purchase homes, $10k dwn and $25K for paving. This park cannot be banked. I can show you how to get homes direct from the factory, delivered, set, blocked and leveled for around 10K dwn. For More Info Click Here..

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Park Information

Community Type: All Age
Number of MH Lots: 35
Total Occupancy: 100.0 %
Average MH Lot Rent: $150
Size: 7.0 acre(s)

Financial Information (Pro Forma)

Gross Income $14,400
Operating Expense $3,600
Net Operating Income $10,800
Expense Ratio 25.0 %
Debt Info

Lot Information

Singlewide Lots: 8

Utility Information

Water: City
Water Paid By: Tenant - Individual Service
Sewer: City

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