Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 10.3%
- Listing ID: 1253570
- Posted On: May 10, 2020
- Updated On: Dec 14, 2020
Description
12 pad lot rental Mobile Home Park. Property owner does not own mobile homes or have the responsibility to repair and maintain mobile homes. These mobile homes are tenant owned homes and the tenants pay a lot fee of $600 a month to the property owner. Owners responsibilities are to maintain the well which is new and the septic system which is in great shape. New pump has been installed on lift station for the styptic system. This is a Turn key mobile home park that is easy to operate as an out of town owner.
Land, Site, and Tax Information
Location
Massive neighborhoods are being developed all around this property. 5.64 Acres
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Park Information
| Community Type: | All Age |
| Number of MH Lots: | 12 |
| Total Occupancy: | 100.0 % |
| Year Built: | 1999 |
| Average MH Lot Rent: | $600 |
| Size: | 6 acre(s) |
Financial Information (Actual)
| Gross Income: | $86,400 |
| Operating Expense: | $11,475 |
| Net Operating Income: | $74,925 |
| Expense Ratio: | 13.3 % |
Lot Information
| Singlewide Lots: | 12 |
Utility Information
| Water: | Well |
| Water Paid By: | Park |
| Sewer: | Septic |
