Mobile Home Park Details

  • Purchase Method: New Loan
  • Cap Rate: 10.0%
  • Property ID: 1080685
  • Posted On: May 12, 2019
  • Updated On: Aug 23, 2019

Property Description

This community is situated in a quiet, residential area has 38 MH/RV units, a two unit apartment building and 4 vacant sites. There are 15 rental homes with rents up to $870, 2 apartments renting for $375 - $675 and 19 site rents from $216 to $385 per month. The park enjoys a high rate of occupancy with many long term residents. Solid investment with solid returns. The park utilities include well and septic.

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Park Information

Community Type: All Age
Number of MH Lots: 40
Total Occupancy: 90.0 %
Year Built: 1967
Average MH Lot Rent: $407
Size: 7.0 acre(s)

Financial Information (Pro Forma)

Gross Income $182,865
Operating Expense $62,088
Net Operating Income $120,777
Expense Ratio 34.0 %
Debt Info

Lot Information

Singlewide Lots: 38

RV Information

Average RV Lot Rent: $407

Utility Information

Water: Well
Water Paid By: Park
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 17
Average Rent for Park-owned Homes: $666

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