Contact Information

Mobile Home Park Details

  • Price: $895,000
  • Purchase Method: Cash, New Loan
  • Cap Rate: 6.8%
  • Property ID: 1336270
  • Posted On: Oct 7, 2020
  • Updated On: Oct 7, 2020

Property Description

Pecan Grove Mobile Home Park is a 17 Site All Age Community located in Indian Springs, Nevada. Pecan Grove was built in 1962 and sits on approximately 1.91 acres. The Park is on all City Services. Electric is Direct Billed. Eleven of the Sites offer 100 AMP electrical service to pedestal units. The remaining six Sites offer 40/50/60 AMP electrical service to pedestal units. Water, Sewer, and Trash are included with rent and paid by owner. Gas is Propane. A portion of the Tenants purchase propane Direct and the remaining Tenants have their individual Park Owned tanks (25g) re-filled by Ownership ($80). There are 9 Park Owned Homes and there are currently no Homes Under Contract for Sale. Seller has owned the Park since 2016 and has never raised rents. Recent capital improvements ($75K) include new ABS sewer lines and all Park Owned Homes have been re-plumbed with new PEX plumbing, including all new water heaters. There are new plywood floors in five of the Park Owned Homes, new main breaker panels in most of the Homes, and new 25 gallon propane tanks and regulators (owned by the Park). There are individual storage sheds for each Site. Pecan Grove has an off-site manager and maintenance person (one block away). A clean, well maintained opportunity!

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Park Information

Number of MH Lots: 17
Total Occupancy: 100.0 %
Year Built: 1962
Size: 2 acre(s)

Financial Information (Actual)

Gross Income $76,500
Operating Expense $15,955
Net Operating Income $60,545
Expense Ratio 20.9 %
Debt Info

Utility Information

Water: City
Water Paid By: Park
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 9

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