Contact Information

Mobile Home Park Details

  • Price: $250,000
  • Purchase Method: Cash, New Loan
  • Cap Rate: 10.0%
  • Property ID: 1320946
  • Posted On: Sep 9, 2020
  • Updated On: Sep 14, 2020

Property Description

This investment property includes 12 spaces: 9 mobile homes are owned by Seller, 1 space is leased to the owner-occupant of the mobile home on that space, and 2 vacant spaces allow for additional income potential. Listing price w/10% cap rate is based only on current income & not potential income that can be generated from the 2 vacant spaces! Each mobile home is separately metered w/all tenants paying all utilities including water. Land includes 2 Parcels: 4.9 & .34 totaling 5.24 Acres.

Location

Only 8 miles to Hwy. 431 in Meridianville, 15 Minutes to Research Park Blvd., 17 miles to downtown Huntsville, AL .

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Park Information

Community Type: All Age
Number of MH Lots: 12
Total Occupancy: 75.0 %
Average MH Lot Rent: $4,210
Size: 5 acre(s)

Financial Information (Pro Forma)

Gross Income $50,520
Operating Expense $12,696
Net Operating Income $25,194
Expense Ratio 25.1 %
Debt Info

Lot Information

Singlewide Lots: 12

Utility Information

Water: City
Water Paid By: Tenant - Individual Service
Sewer: Septic

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