Mobile Home Park Details
- Purchase Method: Seller Financing
- Cap Rate: 6.7%
- Listing ID: 1222412
- Posted On: Mar 4, 2020
- Updated On: Jun 3, 2020
Description
21 spaces plus land. Current rent is $365/month, increasing to $400 July 1, 2020. New direct billed gas & electric systems. Water sub-metered. All permanent residents, all age. Has laundry building with park owned washers and dryers. Sewer is two septic tanks (serviced bi-annually), no charge to residents. Trash is billed at $20 per month per space. Also included: two vacant contiguous lots, each approximately 75'x140' (so total of 75'x280') running from city street to another city street. Three RV's are included in price (spaces 2,11 and 13). Owner will consider financing to approved purchaser.
Location
Near Palm Springs CA, about 10 miles north of I10 just off Highway 62 in Morongo Valley, along the way to Yucca Valley (nearest large city) and 29 Palms. Area is higher elevation than lower desert, so generally a cooler climate.
Amenities
- Laundromat
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 21 |
| Total Occupancy: | 100.0 % |
| Year Built: | 1956 |
| Average MH Lot Rent: | $365 |
| Size: | 2 acre(s) |
Financial Information (Pro Forma)
| Gross Income: | $91,980 |
| Operating Expense: | $36,792 |
| Net Operating Income: | $55,188 |
| Expense Ratio: | 40.0 % |
| Debt Info: | free & clear |
Lot Information
| Singlewide Lots: | 19 |
| Doublewide Lots: | 2 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Submetered |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 3 |
| Average Rent for Park-owned Homes: | $585 |
