Mobile Home Park Details
- Purchase Method: New Loan
- Cap Rate: 10.0% (Pro Forma)
- Listing ID: 1080685
- Posted On: May 12, 2019
- Updated On: Aug 23, 2019
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 acre(s) | 
Financial Information (Pro Forma)
| Gross Income: | $182,865 | 
| Operating Expense: | $62,088 | 
| Net Operating Income: | $120,777 | 
| Expense Ratio: | 34.0 % | 
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 | 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
