Contact Information

Mobile Home Park Details

  • Price: $350,000
  • Cap Rate: 14.0%
  • Property ID: 1035415
  • Posted on Feb 21, 2019

Property Description

This mobile home park is located just 2 blocks from downtown historic Greensboro. The park has 18 park owned homes that are fully occupied. Each home rents for $325/month for gross potential annual income of $70,200. All homes are total electric with window unit heat pumps. 10 air units are less than a year old. Almost all others have been replaced within the last 5 years. 9 homes have new roofs. Park is located on 2+ acres, with room for future expansion (pending city approval). Sewage and water are ready for 3 additional homes. Enjoy low water and sewage rates giving you more return on your investment. Seller is willing to finance 15-20% of purchase price.

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Park Information

Community Type: All Age
Number of MH Lots: 18
Total Occupancy: 100.0 %
Year Built: 2008
Average MH Lot Rent: $325
Size: 2.0 acre(s)

Financial Information (Actual)

Gross Income $64,584
Operating Expense $16,560
Net Operating Income $48,024
Expense Ratio 25.6 %
Debt Info

Lot Information

Singlewide Lots: 18

Utility Information

Water: City
Water Paid By: Park
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 18
Average Rent for Park-owned Homes: $325

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