Contact Information

Michael Lofstedt

Redstone II, LLC

Mobile Home Park Details

  • Price: $674,450
  • Purchase Method: Cash
  • Cap Rate: 9.0%
  • Property ID: 1188711
  • Posted On: Feb 9, 2020
  • Updated On: Feb 9, 2020

Property Description

6 Unit turnkey investment, 5 POH, 1 site built home. Great starter community investment. Park is on private well and 1:1 septic tanks, Upgraded driveway and drainage, 4 units 3 bedroom 1 1/2 bath, 1 unit 3 bedroom 2 bath, house is 3 bedroom 2 bath high demand for rentals limited availability

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Park Information

Community Type: All Age
Number of MH Lots: 6
Total Occupancy: 100.0 %
Year Built: 2000
Average MH Lot Rent: $1,200
Size: 2 acre(s)

Financial Information (Actual)

Gross Income $85,800
Operating Expense $25,100
Net Operating Income $60,700
Expense Ratio 29.3 %
Debt Info

Lot Information

Singlewide Lots: 6

Utility Information

Water: Well
Water Paid By: Park
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 6
Average Rent for Park-owned Homes: $1,200

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