Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 8.0%
  • Property ID: 1189774
  • Posted On: Feb 12, 2020
  • Updated On: Jun 1, 2020

Property Description

2231 Holland Street is a 10 pad mobile home park 5 minutes from downtown Columbia. Eight lot rentals and two park owned homes. Public water and sewer. Additional building on corner has new roof and windows. The building has multiple possibilities: can be converted to single family or used as commercial space – generating an additional $2,000 per month. Park owned homes are well kept and have virtually no deferred maintenance. Park is professionally managed, all tenants are rigorously screened.

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Park Information

Number of MH Lots: 10
Total Occupancy: 100.0 %
Average MH Lot Rent: $245
Size: 1 acre(s)

Financial Information (Actual)

Gross Income $37,570
Operating Expense $6,855
Net Operating Income $30,715
Expense Ratio 18.2 %
Debt Info

Lot Information

Singlewide Lots: 10

RV Information

Number of RV Lots: 0

Utility Information

Water: City
Water Paid By: Park
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 2
Average Rent for Park-owned Homes: $600

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