Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 12.0%
  • Property ID: 1180840
  • Posted On: Jan 18, 2020
  • Updated On: Jan 25, 2020

Property Description

12 lot mobile home park - all long term tenants.
11 lot rent sites and 1 park owned home
Generates $3,000.00 gross monthly income
Park is only responsible for maintaining well system - which has been fully replaced.
Road within the park was fully paved in November 2019.

Location

Sevier County, Tennessee

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Park Information

Community Type: All Age
Number of MH Lots: 12
Total Occupancy: 100.0 %
Year Built: 1999
Average MH Lot Rent: $200
Size: 5.0 acre(s)

Financial Information (Actual)

Gross Income $36,000
Operating Expense $250
Net Operating Income $33,000
Expense Ratio 0.7 %
Debt Info

Lot Information

Singlewide Lots: 11
Doublewide Lots: 1

RV Information

Number of RV Lots: 0

Utility Information

Water: Well
Water Paid By: Park
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 1
Average Rent for Park-owned Homes: $600

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