Mobile Home Park Details

  • Purchase Method: Cash
  • Cap Rate: 8.0%
  • Property ID: 1093168
  • Posted On: Jun 12, 2019
  • Updated On: Aug 12, 2019

Property Description

Serenity Gardens MHP is licensed for 23 Pads and there are 13 rented pads, and 1 vacant home that the owner will sell for $27,500 as a lease with option. The seller believes that the park can only fit 14 pads in the park. The park is serviced by public water and public sewer and paid by the tenants. The park is in a great area with paved roads and sits on 3.44 acres. Great Investment!

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Park Information

Community Type: 55 And Over
Number of MH Lots: 14
Total Occupancy: 95.0 %
Average MH Lot Rent: $320
Size: 3 acre(s)

Financial Information

Gross Income $48,660
Operating Expense $15,065
Net Operating Income $33,594
Expense Ratio 31.0 %
Debt Info

RV Information

Number of RV Lots: 0
Average RV Lot Rent: $0

Utility Information

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

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