Mobile Home Park Details

  • Purchase Method: Cash, Seller Financing, New Loan
  • Cap Rate: 14.0%
  • Property ID: 1183376
  • Posted On: Jan 26, 2020
  • Updated On: Apr 27, 2020

Property Description

46 ACRES
54 RENTAL MOBILES, 3 OF WHICH ARE UNREPAIRABLE
ALL MOBILE HOMES REMODELED IN LAST YEAR
83 FULLY DEVELOPED LOTS
WELL MAINTAINED.

Location

COUNTRYLIKE SETTING, DOUBLE SIZE LOTS

Amenities

  • Storage
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Park Information

Number of MH Lots: 83
Total Occupancy: 75.0 %
Year Built: 1971
Average MH Lot Rent: $220
Size: 46 acre(s)

Financial Information (Pro Forma)

Gross Income $375,000
Operating Expense $135,700
Net Operating Income $240,000
Expense Ratio 36.2 %
Debt Info NONE

Lot Information

Doublewide Lots: 83
Triplewide Lots: 83

RV Information

Number of RV Lots: 4
Average RV Lot Rent: $220

Utility Information

Water: City
Water Paid By: Tenant - RUBs
Sewer: Treatment Plant

Park-Owned Homes

Number of Park-owned Homes: 54
Average Rent for Park-owned Homes: $575

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