Contact Information

Mobile Home Park Details

  • Price: $425,000
  • Purchase Method: Cash, New Loan
  • Property ID: 1291672
  • Posted On: Jul 20, 2020
  • Updated On: Aug 3, 2020

Property Description

Great opportunity to purchase this cash flowing mobile home park. Tenants are long term and pay well. City water and city sewer! Major repairs have been make to water and sewer lines recently. Road could use more gravel and scraping, but in decent shape as is. This park is managed from out of town with ease. I'm happy to pass along vendor list. Tenants mow their own grass. Limited expenses. No owner financing available.

Location

Loacted off main road in Newland, NC. Two minute drive to Ingles Grocery and Roses. 6 minute drive to downtown Newland.

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Park Information

Community Type: All Age
Number of MH Lots: 21
Total Occupancy: 90.0 %
Average MH Lot Rent: $225

Financial Information (Actual)

Gross Income $51,300
Operating Expense $3,207
Net Operating Income $48,092
Expense Ratio 6.3 %
Debt Info

Lot Information

Singlewide Lots: 21
Doublewide Lots: 0
Triplewide Lots: 0
Park Model Lots: 0

RV Information

Number of RV Lots: 0

Utility Information

Water: City
Water Paid By: Tenant - Submetered
Sewer: City

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