Contact Information

Mobile Home Park Details

  • Price: $2,850,000
  • Purchase Method: Cash, Seller Financing, New Loan
  • Property ID: 1046242
  • Posted on Mar 26, 2019

Property Description

60 lot Mobile Home Community located in Pocatello, Idaho the community is producing a $178,303 NOI, which is factored from lot rent incomes only with a 7 CAP valuation. The community has 31 park owned homes, see documents for a breakdown of unit descriptions, valued at $9,768/unit. All park owned homes will sell with the park. Lot rent is $374/mo and current occupancy is 86%, there is currently 52 of the 60 lots that are filled.

Landlord pays for water utilities that are $56,815/year, all 60 lots in the Park have water meters installed and are ready to start charging back to Tenants.

Management of the park has kept up with maintenance and made significant improvements to the function and infrastructure of the park. The owner has contracted with a tree removal company to remove the trees on the North section of the park; to be completed in the Spring of 2019.

Pocatello's population is over 54,000 people with a median income of $40,000. The average age is 30 years old and is home to Idaho State University with over 12,000 students and 250 college programs that vary from Associates to Doctorates. In addition to the economics that ISU brings in with students and jobs, Pocatello's major employers include the FBI, JR Simplot and Idaho National Laboratory. Pocatello has an impressive 3.4% unemployment rate as compared to the National average of 5.2%.

For financials and confidentiality agreements to be signed, please visit http://properties.svn.com/PocatelloMobileHomePark and you will get access from there.

Location

Located in Pocatello, Idaho behind Cole Chevrolet on Yellowstone Avenue. Pocatello and Chubbuck are a combined city on both interstate 15 (North to south) and Interstate 86 (East to West)

Amenities

  • Storage
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Park Information

Community Type: All Age
Number of MH Lots: 60
Total Occupancy: 86.0 %
Average MH Lot Rent: $374
Size: 7.7 acre(s)

Utility Information

Water: City
Water Paid By: Tenant - Submetered
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 31
Average Rent for Park-owned Homes: $600

Video

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