Contact Information

Christopher Cochran

Ozark Hills Properties LLC

Mobile Home Park Details

  • Price: $260,000
  • Purchase Method: Cash, New Loan
  • Cap Rate: 9.6%
  • Property ID: 1190947
  • Posted On: Feb 16, 2020
  • Updated On: Feb 16, 2020

Property Description

This is a mobile home park that has 5 pull-through R/V lots and 27 mobile home or R/V lots. Many of the lots that were used for mobile have been turned into long term R/V lots. However, each lot can be used for either an R/V or Mobile. There is a laundry mat on-site as well as a dedicated office. There is also a large garage with three garage bays and a carport.

This park is priced aggressively to sell with the current percentage of occupancy. It is profitable in its current condition but can be MUCH more profitable with full occupancy. A portion of the lots will require updating to be fully functional. Crestwood is not fully turn-key and will require work to be fully functional.

There are 32 confirmed lots with the potential for a 33rd lot in the back area.

Location

This park is 5 minutes from North Fork river and Norfork Lake & Dam.

Amenities

  • Laundromat
  • Storage
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Park Information

Community Type: All Age
Number of MH Lots: 33
Total Occupancy: 40.0 %
Average MH Lot Rent: $200
Size: 12 acre(s)

Financial Information (Actual)

Gross Income $43,200
Operating Expense $18,000
Net Operating Income $25,200
Expense Ratio 41.7 %
Debt Info

Lot Information

Singlewide Lots: 26
Doublewide Lots: 2
Triplewide Lots: 0

RV Information

Number of RV Lots: 5
Average RV Lot Rent: $300

Utility Information

Water: Well
Water Paid By: Park
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 2
Average Rent for Park-owned Homes: $540

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