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Mobile Home Park Details
- Purchase Method: New Loan
- Cap Rate: 11.0%
- Listing ID: 125160
- Posted On: Apr 3, 2012
- Updated On: Apr 8, 2013
Description
Total of 30 acres with 800 feet of frontage on 231 N (a four laned road). 22 existing park owned double wide homes on a permanent block foundations. The park is serviced by three septic systems and city water. There is room for 10 additional homes and possible commercial use up front. The return on this one is excellent. Strong seasoned income stream.
Location
The location is rural, quiet and serene. Close to Murfreesboro (10 min) and Shelbyville (5 min).
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Park Information
| Community Type: | All Age |
| Number of MH Lots: | 22 |
| Total Occupancy: | 100.0 % |
| Year Built: | 1986 |
| Average MH Lot Rent: | $650 |
| Size: | 30 acre(s) |
Financial Information (Actual)
| Gross Income: | $201,000 |
| Operating Expense: | $48,000 |
| Net Operating Income: | $152,000 |
| Expense Ratio: | 23.9 % |
Lot Information
| Singlewide Lots: | 0 |
| Doublewide Lots: | 22 |
| Triplewide Lots: | 0 |
| Park Model Lots: | 0 |
RV Information
| Number of RV Lots: | 0 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Individual Service |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 22 |
| Average Rent for Park-owned Homes: | $650 |