Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 7.0%
  • Listing ID: 1351425
  • Posted On: Nov 5, 2020
  • Updated On: Dec 18, 2020

Description

Lake County Multi Family Mobile Home Park. High income opportunity with great upside. This 15+ acre property includes 30 spaces (17 permeant), a men's and woman's bathroom, laundry room, front entry office with double carport, a 3 plex apartment with a studio, 3 bedroom 1 1/2 bath, and a 4 bedroom with 2 full baths. There is also a main office with upstairs living quarters, a cabin (needs renovation) and a barn. Overall, the property has been well maintained and parts have been renovated. Call listing agent for email brochure on property with more details.

Amenities

  • Laundromat
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Park Information

Number of MH Lots: 30
Total Occupancy: 70.0 %
Year Built: 1950
Average MH Lot Rent: $400
Size: 15 acre(s)

Financial Information (Actual)

Gross Income: $142,680
Operating Expense: $65,000
Net Operating Income: $77,600
Expense Ratio: 45.6 %

Lot Information

Singlewide Lots: 30

Utility Information

Water: Well
Water Paid By: Park
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 3
Average Rent for Park-owned Homes: $900