Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 11.0%
  • Property ID: 1281074
  • Posted On: Jul 1, 2020
  • Updated On: May 28, 2021

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
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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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