Contact Information

Mobile Home Park Details

  • Price: $1,000,000
  • Purchase Method: Cash, Seller Financing
  • Land: This is land for developing a mobile home park
  • Cap Rate: 9.0%
  • Property ID: 1123573
  • Posted On: Aug 20, 2019
  • Updated On: Jan 23, 2020

Property Description

Prime investment

12- Pad Mobile Home Park with 12 park owned trailers that are 100% occupied.
6 homes are 2018 models, 5 are 2019, and 1 is 2020 model homes with full warranty. (14X66)
7 of the 12 homes are section 8 renters. Their rent gets deposited into our account on the same day every month. All 12 homes are filled with great tenants.
Park owned trailer monthly rent is $825.00
If someone brings their own trailer in the park, the pad rent is $325.00 a month.
Each tenant pays for their OWN WATER BILL AND ELECTRICITY BILL. Homes are on a Health Dept approved septic system at the back of the park
20' wide asphalt road going through the park with concrete parking at each pad and sidewalk. Also we have front decks built on each home.
We are being paid 100 a month for the billboard on our property.
The land is on 18 acres so there is plenty of room for growth located on the busiest HWY in MS. If you wanted to add another 12 lots tomorrow, you have more than enough room.

Amenities

  • Handicap Accessible
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Park Information

Community Type: All Age
Number of MH Lots: 12
Total Occupancy: 100.0 %
Year Built: 2018
Average MH Lot Rent: $825
Size: 18.0 acre(s)

Financial Information (Actual)

Gross Income $119,760
Operating Expense $21,027
Net Operating Income $98,733
Expense Ratio 17.6 %
Debt Info

Lot Information

Singlewide Lots: 12

Utility Information

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

Park-Owned Homes

Number of Park-owned Homes: 12
Average Rent for Park-owned Homes: $825

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