Contact Information

Mobile Home Park Details

  • Price: $8,500,000
  • Cap Rate: 6.4%
  • Property ID: 1162903
  • Posted On: Dec 11, 2019
  • Updated On: Apr 2, 2020

Property Description

Brentwood MHP has a total of 111 spaces that consist of 26 lot rent only tenants, 77 POHs, 7 rent to own homes, and 1 vacant POH. Crepe Myrtle MHP has a total of 33 spaces that consist of 6 lot rent only tenants, 23 POHs, and 4 rent to own homes.
This portfolio has a total of 144 spaces with 143 tenants with 32 lot rent only tenants paying an average of $337.61, 100 rented POHs, 11 rent to own homes, and 1 vacant POH. Current occupancy is at 99.3%. The POHs are in above average condition with many homes being newer than 2005 vintage. Both parks are on public water, directly billed and on private septic. The parks are not in a flood zone.

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Park Information

Number of MH Lots: 144
Total Occupancy: 99.3 %
Average MH Lot Rent: $337
Size: 107 acre(s)

Financial Information

Net Operating Income $434,985
Debt Info

Utility Information

Water: City
Water Paid By: Tenant - Individual Service
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 77

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