Contact Information

Kiel Rubio

Wise Living Real Estate

Mobile Home Park Details

  • Price: $825,000
  • Purchase Method: Cash, New Loan
  • Cap Rate: 12.0%
  • Property ID: 1179793
  • Posted On: Jan 15, 2020
  • Updated On: Jan 15, 2020

Property Description

This 19 lot, turnkey mobile home park is a producer! Boasting 11, 100% occupied, park owned homes and 8 additional lots that have full utilities, this park is primed to generate huge returns. The 11 park owned homes are generating $9,400 a month in gross revenue. The remaining 8 lots can be easily rented out to beef up the income without spending a dime; or they can be finished out by the new owner to almost double the revenue! It's almost like getting two parks for one! This park is super clean; all but one of the park owned homes have been remediated. Call your favorite agent today for more information.

Location

Just minutes from Interstate 10 for easy access to Pensacola and Mobile. Also only approximately 15 miles from the beach.

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Park Information

Community Type: All Age
Number of MH Lots: 19
Total Occupancy: 58.0 %
Average MH Lot Rent: $850
Size: 3 acre(s)

Financial Information (Actual)

Gross Income $112,800
Operating Expense $10,000
Net Operating Income $102,800
Expense Ratio 8.9 %
Debt Info

Lot Information

Singlewide Lots: 19
Doublewide Lots: 0
Triplewide Lots: 0
Park Model Lots: 0

Utility Information

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

Park-Owned Homes

Number of Park-owned Homes: 11
Average Rent for Park-owned Homes: $850

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