Contact Information

Lovelle Glenn

Blue Ridge properties

Mobile Home Park Details

  • Price: $395,000
  • Purchase Method: Cash
  • Cap Rate: 9.5%
  • Property ID: 1320957
  • Posted On: Sep 10, 2020
  • Updated On: Sep 16, 2020

Property Description

8 unit park with 6 park owned homes and 2 lot rentals. Gross income over $40,000 annually. Full occupancy for over 10 years. City water, sewer and garbage collection. No additional room to add more homes. Very low maintenance expense.

Location

Excellent location to stores, gas stations, restaurants, bank and post office.

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Park Information

Community Type: All Age
Number of MH Lots: 8
Total Occupancy: 100.0 %
Year Built: 1995
Average MH Lot Rent: $450
Size: 1 acre(s)

Financial Information (Actual)

Gross Income $41,000
Operating Expense $3,000
Net Operating Income $38,000
Expense Ratio 7.3 %
Debt Info None

Lot Information

Singlewide Lots: 8
Doublewide Lots: 0
Triplewide Lots: 0
Park Model Lots: 8

RV Information

Number of RV Lots: 2
Average RV Lot Rent: $225

Utility Information

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

Park-Owned Homes

Number of Park-owned Homes: 6
Average Rent for Park-owned Homes: $500

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