Mobile Home Park Details
- Purchase Method: Cash, Seller Financing
- Land: This is land for developing a mobile home park
- Cap Rate: 9.0% (Actual)
- Listing ID: 1123573
- Posted On: Aug 20, 2019
- Updated On: Sep 25, 2020
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
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 acre(s) |
Financial Information (Actual)
| Gross Income: | $119,760 |
| Operating Expense: | $21,027 |
| Net Operating Income: | $98,733 |
| Expense Ratio: | 17.6 % |
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 |
