Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 9.0%
  • Property ID: 1063430
  • Posted On: Apr 26, 2019
  • Updated On: Jun 25, 2019

Property Description

This is a 55+ mobile home park located on 6.95 acres with 32 mobile home spaces and 2 RV spaces. The lots are large with some doublewide spaces. There are 12 park owned mobile homes plus the doublewide mobile home used as an office at the front of the park, 19 spaces for tenant owned homes and 2 RV spaces. Clubhouse and pool.
The park has two large central septic systems and has a deep well for water. Roads are asphalt paved and homes have concrete driveways and screened rooms.

Location

Park is located in a booming area with strong development all around. There is a new Walmart store and McDonalds restaurant just across the street. Upscale Black Diamond golf course and community nearby.

Amenities

  • Pool
  • Club House
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Park Information

Community Type: 55 And Over
Number of MH Lots: 34
Total Occupancy: 85.0 %
Average MH Lot Rent: $370
Size: 7.0 acre(s)

Financial Information (Pro Forma)

Gross Income $157
Operating Expense $50
Net Operating Income $107
Expense Ratio 31.8 %
Debt Info

Lot Information

Singlewide Lots: 26
Doublewide Lots: 6

RV Information

Number of RV Lots: 2
Average RV Lot Rent: $450

Utility Information

Water: Well
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 12
Average Rent for Park-owned Homes: $537

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