Contact Information

Mobile Home Park Details

  • Price: $699,000
  • Purchase Method: Cash, New Loan
  • Cap Rate: 10.8%
  • Property ID: 1192232
  • Posted On: Feb 20, 2020
  • Updated On: Feb 20, 2020

Property Description

Mobile home village being offered for sale. Property is an established park that has a total of 13 units including a Owners/Managers residence (now being rented). There are 10 doublewides and 2 single wide units.

All units have been undated over the past 8 years with new roofs on all in past 4 years. All units are currently occupied, some have long term occupancy for last several years. Majority have annual leases. Majority of the units are late 1990's.

Recent updates include water systems connected to county water and New Storage/Office building in place.

Tenants pay electric, water, and trash removal. Currently park provides pest control to units and lawn care. However with onsite management lawn care could be eliminated which would reduce operational expense.

Upside of park is that there is enough acreage that more units could be added for additional income. Selling due to medical issues.

Location

Park consists of a total of 17.64 acres with each unit residing on an acre +. Private access with 13 dusk to dawn lights throughout park.

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Park Information

Community Type: All Age
Total Occupancy: 100.0 %
Year Built: 1990
Size: 18 acre(s)

Financial Information (Actual)

Gross Income $91,800
Operating Expense $16,000
Net Operating Income $75,800
Expense Ratio 17.4 %
Debt Info

RV Information

Number of RV Lots: 0
Average RV Lot Rent: $0

Utility Information

Water: City
Water Paid By: Tenant - Individual Service
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 13
Average Rent for Park-owned Homes: $600

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