Contact Information

Scott Urschel

A1 Realty, Inc.

Mobile Home Park Details

  • Price: $1,849,000
  • Purchase Method: Cash, Seller Financing, New Loan
  • Cap Rate: 7.0%
  • Property ID: 1052843
  • Posted On: Apr 13, 2019
  • Updated On: Feb 10, 2020

Property Description

The Elms Mobile Park is an all age park on Indio Blvd in Indio it sits on 2.4 acres. There are no park owned homes (1 one bed stick built house). Steady cash flow from long term residents. Most residents have been in the same space for five plus years some twenty plus years. All the utilities are passed through. Sewer lines were replaced about 14 years ago never an issue. Power comes into three 200 amp main panels, runs overhead to each space and is submetered. Most panels are 30 amp, 5 have been upgraded to 30/50's. Water is provided by the well, in the last 36 months both pumps have been replaced, the well pipe replaced, 3 brand new WellXtroll bladder tanks installed, the 5000-gallon storage tank was drained and cleaned. Some of the feed water lines have been upgraded. That's It-You provide utilities to the spaces and the residents take care of their home and pay rent. It's not pretty but it's worked for 50 years.

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Park Information

Community Type: All Age
Number of MH Lots: 48
Total Occupancy: 100.0 %
Year Built: 1960
Average MH Lot Rent: $302
Size: 2 acre(s)

Financial Information (Actual)

Gross Income $245,591
Operating Expense $117,091
Net Operating Income $128,500
Expense Ratio 47.7 %
Debt Info

Lot Information

Singlewide Lots: 18

RV Information

Number of RV Lots: 30
Average RV Lot Rent: $300

Utility Information

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

Park-Owned Homes

Number of Park-owned Homes: 0


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