Montgomery Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 9.5%
- Listing ID: 1145591
- Posted On: Oct 17, 2019
- Updated On: Feb 18, 2020
Description
This property is located north of Franklinton with great access to US-1 Hwy. The zoning is AR District. 35 lots. Currently 23 homes on site. Nine of the homes have just been renovated. 12 vacant lots. Two wells with water tank. 21 septic tanks. Paved streets. Legacy tenants. Mobile home lease rate ranges from $450 to $600. Market lease rate is $750 per month. Big upside if rates are slowly increased. New water and sewer infrastructure. Three tenant owned homes. Twenty park owner homes. This property is in the path of growth.
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Park Information
| Community Type: | All Age |
| Number of MH Lots: | 35 |
| Total Occupancy: | 66.0 % |
| Year Built: | 1984 |
| Average MH Lot Rent: | $250 |
| Size: | 9 acre(s) |
Financial Information (Actual)
| Gross Income: | $126,600 |
| Operating Expense: | $35,256 |
| Net Operating Income: | $91,344 |
| Expense Ratio: | 27.8 % |
Lot Information
| Singlewide Lots: | 35 |
Utility Information
| Water: | Well |
| Water Paid By: | Park |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 20 |
| Average Rent for Park-owned Homes: | $550 |
