Mobile Home Park Details
- Cap Rate: 10.0%
- Listing ID: 12851
- Posted On: Jun 2, 2010
- Updated On: Nov 29, 2010
Description
12 UNITS OF THE 67 TOTAL UNITS IS ON A SEPARATE PARCEL OF LAND AND IS AVAILABLE FOR $450,000.
GROSS OF $90,000.+ WITH EST CASH FLOW OF $68,000 BEFORE DEBT SERVICE
OWNER WILL HOLD $100,000 2ND MORTGAGE AT 5%----30YEAR AMORTIZATION WITH 10 YEAR BALLOON.
CAP RATE IS BASED ON 85% OCCUPANCY.
Location
LOCATED APPROX 30 MILES FROM OCEAN CITY, MD ON THE EASTERN SHORE OF MD. AKA THE DELMARVA PENINSULA. 100 MILES SOUTH OF WILMINGTON, DE, 110 MILES FROM BALTIMORE, MD AND WASHINGTON ,DC AND 120 MILES NORTH OF NORFOLK, VA.
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Park Information
| Number of MH Lots: | 67 |
| Total Occupancy: | 94.0 % |
| Year Built: | 1960 |
| Average MH Lot Rent: | $128 |
Park-Owned Homes
| Number of Park-owned Homes: | 55 |
| Average Rent for Park-owned Homes: | $150 |
