Mobile Home Park Details
- Purchase Method: New Loan
- Cap Rate: 9.0% (Pro Forma)
- Listing ID: 1038693
- Posted On: Mar 4, 2019
- Updated On: Jul 18, 2019
Description
Easy Living Mobile Home Park is an excellent opportunity for an investor to acquire a high yield, stabilized multi-family rental community (park owned homes) that has consistently demonstrated high demand in a tight housing market as evidenced by low vacancy levels and rental rates consistent with the surrounding market. This asset becomes more lucrative when you consider the fact that this property is situated in an Opportunity Zone as part of the Tax Cuts and Jobs Act of 2017. An investor can potentially benefit from tax savings as it relates to capital gains, for more information about Opportunity Zones, it is suggested that a Tax Professional be consulted to ascertain all investment and taxation needs involved.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 86 |
| Total Occupancy: | 95.0 % |
| Year Built: | 1953 |
| Average MH Lot Rent: | $955 |
| Size: | 7 acre(s) |
Financial Information (Pro Forma)
| Gross Income: | $865,134 |
| Operating Expense: | $411,970 |
| Net Operating Income: | $453,164 |
| Expense Ratio: | 47.6 % |
| Debt Info: | New |
Lot Information
| Doublewide Lots: | 86 |
Utility Information
| Water: | City |
| Water Paid By: | Park |
| Sewer: | City |