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Mobile Home Park Details

  • Price: $799,000
  • Cap Rate: 8.0%
  • Property ID: 1141623
  • Posted On: Oct 3, 2019
  • Updated On: Nov 20, 2019

Property Description

Prime investment opportunity Mobile Home Park located on 3.0 level acres in Economy Boro, Beaver County. Approved for 22 pads that are under grandfather clause for the existing space. Property also has a 3308 SFT outbuilding containing 2 remodeled apartments, an office and storage. The apartments are occupied and on annual leases at $550 and $600 per month. . There is potential upside in converting the office into an apartment. Currently, mobile home owners occupy the 22 pads on month to month lot rent leases. Potential upside to increase the current $250 lot rent to $300. Mobile home owners and tenants pay all their own utilities except garbage. Public water and sewer. Sale will include the sellers mobile home, garage, equipment - snow plowing side by side, back hoe, tractors, trailers, tools and all remaining mobile home supplies. OGM rights and current lease with Penn Energy Resources convey with sale.

Location

Great investment property! Well maintained mobile home park with 22 trailer pads. Mobile homes are owned individually. There is also a 3308 SFT outbuilding that has two apartments, an office and storage. Public water and sewer. Located in a great setting on 3.0 acres of flat land with easy access to major highways. Lot measures 248'x538'x205'x681. Zoned C1 - General Commercial. Private sale - Tenants should not be disturbed.

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Park Information

Community Type: All Age
Number of MH Lots: 22
Total Occupancy: 100.0 %
Year Built: 1944
Average MH Lot Rent: $250
Size: 3.0 acre(s)

Financial Information (Actual)

Gross Income $79,800
Operating Expense $13,200
Net Operating Income $66,600
Expense Ratio 16.5 %
Debt Info

Lot Information

Singlewide Lots: 22

Utility Information

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

Park-Owned Homes

Number of Park-owned Homes: 1
Average Rent for Park-owned Homes: $250

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