Mobile Home Park Details
- Purchase Method: Cash, Seller Financing, New Loan
- Cap Rate: 8.6% (Pro Forma)
- Listing ID: 1283170
- Posted On: Jul 5, 2020
- Updated On: Sep 14, 2020
Description
88 Pads approved by county for RV/MOBILE HOME PARK,pads are 42'x 54'& do not include the septic area. To date there are 53 of the planned & approved lots completed,electricity is available for the 35 remaining lots & sewer permits are in hand for the 35.Sewer& water expense is avoided with deep water wells & septic tanks saving $75/month or $6,600/month for 88 RV'S.POSITIVE CASH FLOW at Present with 18% of planned 0ccupancy.
Location
Summerdale,Alabama,Baldwin County BEACH EXPRESSWAY,9 miles south of Interstate 10,fastest growing area in Alabama, 22 miles to GULF OF MEXICO BEACHES,625'Frontage on BEACH EXPRESS,TRAFFIC COUNT 20,000-25,000 per 24 HOUR PERIOD& with extension to INTERSTATE 10 estimates are that it could possibly double.
Amenities
- Laundromat
- Handicap Accessible
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Park Information
| Community Type: | All Age |
| Number of MH Lots: | 88 |
| Total Occupancy: | 93.0 % |
| Year Built: | 2017 |
| Average MH Lot Rent: | $425 |
| Size: | 9 acre(s) |
Financial Information (Pro Forma)
| Gross Income: | $392,700 |
| Operating Expense: | $68,400 |
| Net Operating Income: | $324,300 |
| Expense Ratio: | 17.4 % |
| Debt Info: | disclosed at proper time, seller extremely motivated health |
Lot Information
| Singlewide Lots: | 88 |
| Doublewide Lots: | 0 |
| Triplewide Lots: | 0 |
| Park Model Lots: | 1 |
RV Information
| Number of RV Lots: | 88 |
| Average RV Lot Rent: | $425 |
Utility Information
| Water: | Well |
| Water Paid By: | Park |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 2 |
| Average Rent for Park-owned Homes: | $425 |