Contact Information

John Hall

Rockstaar LLC

Mobile Home Park Details

  • Price: $350,000
  • Purchase Method: Cash, New Loan
  • Cap Rate: 19.0%
  • Property ID: 1270207
  • Posted On: Jun 12, 2020
  • Updated On: Jun 12, 2020

Property Description

Looking to sell my park in Henagar, AL.
Beautiful grounds, we've got it to 62% occupied. I've been working on getting remodels on the empty homes. I've been doing full remodels and selling them to the residents.
The demand is there in the area, I could fill up the remaining 6 units but they're not in livable condition and I've worked really hard to get the bad actors out of the park and make sure it's filled with people that enjoy where they live, and take care of their home and the park. All new lot rent is 250/month and slowly raising current lot rent homes to 250 to match.
5 Rent to own homes Avg 504.90
2 Lot rent only homes Avg 142.00
3 Rented homes Avg 403.00

Amenities

  • Storage
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Park Information

Community Type: All Age
Number of MH Lots: 16
Total Occupancy: 62.5 %
Average MH Lot Rent: $373
Size: 10 acre(s)

Financial Information (Actual)

Gross Income $48,000
Operating Expense $1,200
Net Operating Income $46,800
Expense Ratio 2.5 %
Debt Info Loan with bank

Lot Information

Singlewide Lots: 15
Doublewide Lots: 1

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: $403

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