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Teche Meadow MHP 5615 Louisiana 14, New Iberia, LA 70560

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Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 6.8% (Actual)
  • Listing ID: 1273211
  • Posted On: Jun 18, 2020
  • Updated On: Sep 12, 2020

Description

Great value add
Approximately 4 acres
Zoned for 21 space park w/ large home
17 usable w/ opportunity to add 4 more
3 vacant park owned homes
Current lot rent $200/month
Current gross rent $2900/month
Nearby lot rent $245/month (includes sewer and trash)
Tenants direct billed public water
2 septic systems - sewer included w/rent
Both systems professionally managed by certified operator
Dumpster/trash service provided by parish (county)
Large home rents for $850/month
Gravel roads recently improved by current owner
New LED security lighting installed by current owner

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Park Information

Community Type: All Age
Number of MH Lots: 17
Average MH Lot Rent: $200
Size: 4 acre(s)

Financial Information (Actual)

Gross Income: $34,800
Operating Expense: $10,944
Net Operating Income: $23,856
Expense Ratio: 31.4 %

Lot Information

Singlewide Lots: 17
Doublewide Lots: 0
Triplewide Lots: 0
Park Model Lots: 0

RV Information

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

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: $0