Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Listing ID: 115235
  • Posted On: Feb 15, 2012
  • Updated On: Feb 20, 2014

Description

LKC Mobile Home Park consists of 31 Lots with 20 park owned homes, 5 tenant owned homes and 5 vacant lots. Also on site is a 26'x40' heated cinder block storage building with coin operated laundry in rear (3 washers and 2 dryers) income from laundry is not included in Gross Income. Public water and sewer service entire park. New water lines from street to homes in 2008 and new sewer lines approximatly 10-15 years ago. Two adjoining additional seperate deeded lots (75'x140' each) are included with the park sale. Lots are zoned for a 2 unit appartment building on each or can be used to expand park. The location of the park is in a residential area 2-3 blocks from shopping center which is a great location for tenants without vehicles and very easy to rent. Lot rents average $265 and owner owned home rents range from $400-$475. Location is less than 30 minutes from PA and the booming Marcellus Shale industry resulting in lack of housing and the potential for higher rents.

ALL REASONABLE OFFERS WILL BE CONSIDERED.

Please call for additional information.
570-430-1035 or 570-947-3733

Location

From SR 17 take exit 59 to SR 427 follow approx. 10 miles through Wellsburg to stop light, make left onto Cedar Street follow approx. 3/4 mile to right on Sherman Avenue to LKC Mobile Home Park on left.

Amenities

  • Laundromat
  • Storage
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Park Information

Community Type: All Age
Number of MH Lots: 30
Total Occupancy: 98.0 %
Year Built: 1970
Average MH Lot Rent: $265

Financial Information (Pro Forma)

Gross Income: $118,000
Operating Expense: $29,000
Net Operating Income: $91,000
Expense Ratio: 24.6 %

RV Information

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

Utility Information

Water: City
Water Paid By: Park
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 20
Average Rent for Park-owned Homes: $425

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