Contact Information

Ron Pillay

Junron Estate

Mobile Home Park Details

  • Price: $595,000
  • Purchase Method: Seller Financing, New Loan
  • Cap Rate: 11.2%
  • Property ID: 1153261
  • Posted On: Nov 6, 2019
  • Updated On: Jan 13, 2020

Property Description

23 SITES ALL CITY UTILITIES ON 7.5 ACRES

everyone wants to buy low but no one wants to pay the listing price right! So if this park which is worth $40000.00 an acre by 7.5 acres just for the land due to the growth and Cherokee Casino within a mile and over $175000000.00 development being developed right now. But we have 23 sites of which 18 is occupied with a rental income of $8584.00 monthly .
$595000.00 with 70% financing.
This is 11.17% cap with a high land value.

Location

across from brand new casino

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Park Information

Community Type: All Age
Number of MH Lots: 17
Total Occupancy: 99.0 %
Year Built: 1985
Average MH Lot Rent: $265
Size: 7.5 acre(s)

Financial Information (Actual)

Gross Income $97,000
Operating Expense $15,200
Net Operating Income $81,800
Expense Ratio 15.7 %
Debt Info

Lot Information

Singlewide Lots: 17
Doublewide Lots: 0
Triplewide Lots: 0
Park Model Lots: 0

RV Information

Number of RV Lots: 0
Average RV Lot Rent: $265

Utility Information

Water: City
Water Paid By: Park
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 15
Average Rent for Park-owned Homes: $450

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