Contact Information

Mobile Home Park Details

  • Price: $1,499,000
  • Purchase Method: Cash, Seller Financing, New Loan
  • Cap Rate: 10.6%
  • Property ID: 1296880
  • Posted On: Jul 30, 2020
  • Updated On: Aug 4, 2020

Property Description

Great development opportunity! Pencils extremely well with a 10.5% cap rate based on 2019 collected income from professional property management company and expenses from sellers audited financials.

Mobile Home Park corner of Elmore and Lore, next to Whitehawk. Nearly 5 acres of usable land with 25 trailers, 1 single family, large shop. 14 pay space rent, 11 seller-owned. Tenants pay all utilities. MOA Grandfathered. Seller states 'soils consist of large, marketable quantities of gravel'. Future SFR subdivision? Close to Far North Park/BLM, EZ access to UAA/APU.

Additional storage buildings come with the property, including a 10x50 storage unit w/ garage door, a Quonset hut 15'x20' deep, a well house, a large fenced storage yard with access gates. Most have electricity.

One well for the entire park. Pipe believe to be 2.25' wide. Excellent water pressure, and always passes Anchorage Well & Pump inspections.

Several sewer systems upgraded. About 50% of the trailers share a septic system, and the rest have individuals. All serviced and pumped as needed by Anchorage Well and Pump.

Financing available! Seller will consider carrying a small 2nd, leaving only 20% down for qualified borrower. Property pencils VERY well. DEC letter on file w/ approval of onsite well and septic systems, but city utilities adjacent. All tenants and space renters pay an additional $58 per month towards utilities and general maintenance. ALL owned trailers well maintained and improved.

Location

Great development opportunity that cash-flows! Mobile Home Park corner of Elmore and Lore, next to Whitehawk. Nearly 5 acres of usable land with 25 trailers, 1 single family, large shop. 14 pay space rent, 11 seller-owned. Tenants pay all utilities. MOA Grandfathered. Seller states 'soils consist of large, marketable quantities of gravel'. Close to Far North Park/BLM, EZ access to UAA/APU.

Amenities

  • Storage
Interested in purchasing this mobile home park? Get pre-qualified for a loan.

Park Information

Total Occupancy: 100.0 %
Year Built: 1965
Size: 5 acre(s)

Financial Information (Actual)

Gross Income $225,500
Operating Expense $68,000
Net Operating Income $157,500
Expense Ratio 30.2 %
Debt Info

Utility Information

Water: Well
Water Paid By: Park
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 11

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