Contact Information

David Boshart

Mobile Homes USA

Mobile Home Park Details

  • Price: $300,000
  • Purchase Method: Cash
  • Cap Rate: 67.0%
  • Property ID: 1364273
  • Posted On: Dec 4, 2020
  • Updated On: Aug 19, 2021

Property Description

The park contains 12 mobile home spaces with utilities and 300' of chain link fence bordering the back of the property. I have room on the propriety to add additional 4 lots and currently have one
park owned home and 3 tenant owned paying rent of $250/month or $1050 total. By converting this to an RV Park I can get 2 RV units in each space and therefore have room for 32 RV Spaces
I am willing to partner for $150K or sell the park for $100K off being $200K cash. Let me know your preference.

I have evaluated several different options for the park in the past
year and decided to convert it to an RV Park which the city council
will approve for a new owner or Partner if it is put in his namd

If we go that route we can get $300/night per unit for emptying their tanks and $550-600/month for space rental. We are proposing to have each lot approved for two units per lot which would receive $550x24=$13,200/month = $158,400 for monthly
rentals at 90% occupancy =$142,500 and $300/night for 4 spaces dedicated for overnight at 25% occupancy = $1200x.25 or
$300/night x 365 =109.000 seems conservative or total potential annual income of $250,000. Our estimated expenses for putting in our own well system as opposed to being on city water and putting in the additional 4 spaces to be $25,000 max with operational costs estimated at $25,000 would project approximately $200K/year creating a market value of up to $2 Million when developed out and operational which we should be able to complete by year end. e have a reliable lady in the park
now who could manage and collect monies for us if we give her a free space and more.

***I also have a property under contract in Cottondale, Florida just off I-10 and US 231 which was a former truck stop with office and eight bays which can be used for RV Repairs or washing which is laid out for 300 spaces that I will partner with for $300,000 as well if my investor/partner wants to develop both parks simultaneously. Our total estimated costs to develop the first 100 spaces on this property and improve the office and warehouse would be appx $50.000 with larger returns we can get from RV Parts and Repairs.

Location

Great location near Alabama College of Osteopathic Medicine, Fortis College and Wallace Community College and all other businesses in Dothan. Alabama
AL.
,

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Park Information

Community Type: All Age
Number of MH Lots: 12
Total Occupancy: 27.0 %
Year Built: 1967
Average MH Lot Rent: $360
Size: 3 acre(s)

Financial Information (Pro Forma)

Gross Income $250,000
Operating Expense $50,000
Net Operating Income $200
Expense Ratio 20.0 %
Debt Info 0

Lot Information

Singlewide Lots: 12
Doublewide Lots: 0
Triplewide Lots: 0

RV Information

Number of RV Lots: 0
Average RV Lot Rent: $0

Utility Information

Water: City
Water Paid By: Park
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 0
Average Rent for Park-owned Homes: $250

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