Contact Information
Benny Spensieri
CRES Corp International, LLC
Mobile Home Park Details
- Price: $890,000
- Purchase Method: Cash, New Loan
- Cap Rate: 11.0%
- Property ID: 1281074
- Posted On: Jul 1, 2020
- Updated On: Aug 22, 2020
Property Description
This is a combination MH-RV Park offering 70% occupancy with long term, reliable tenants. The park is making a good amount of money, coming in at 11% cap rate at asking price. Seller will consider the best offer that comes in.
Park consists of:
• 29-spaces
• 6 Park Owned MH’s
• 5- RV’s
• On-site Laundry (Not in Operation)
• Large Storage Shed
• Well/Septic
• Brand New Septic Tank & Drainfield
Property is 70% occupied and producing:
• Gross Revenue $133,000/an
• NOI - $96,530
Location
Chancey to Allen to Tucker Rd
Amenities
- Laundromat
Interested in purchasing this mobile home park? Get pre-qualified for a loan.
Park Information
Community Type: | All Age |
Number of MH Lots: | 29 |
Total Occupancy: | 70.0 % |
Year Built: | 1979 |
Average MH Lot Rent: | $300 |
Size: | 2 acre(s) |
Financial Information (Actual)
Gross Income | $133,016 |
Operating Expense | $36,486 |
Net Operating Income | $96,530 |
Expense Ratio | 27.4 % |
Debt Info |
RV Information
Number of RV Lots: | 23 |
Average RV Lot Rent: | $290 |
Utility Information
Water: | Well |
Sewer: | Septic |
Park-Owned Homes
Number of Park-owned Homes: | 11 |
Average Rent for Park-owned Homes: | $750 |