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 |
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