Contact Information

David Boshart
Mobile Homes USA

Mobile Home Park Details

  • Price: $250,000
  • Purchase Method: Cash
  • Cap Rate: 21.0%
  • Property ID: 1364273
  • Posted On: Dec 4, 2020
  • Updated On: Aug 12, 2022

Property Description

The park currently contains 9 singlewide mobile home and one (1) doublewide spaces with utilities and 300' of chain link fence bordering the back of the property Partner for $250K- Buy outright for $450K

We have three rentals in the park now paying $300/month and can fill all other spaces by September 30 so projected gross income for 12 months ended 9/30/23 should be $300 x 9=$2700 for the singles and $450 for the double being $3150 x 12 equaling $37,800 annually (Round up to $38,000) .

We also have our own proprietary 10x10 sheds with cement floors
and rubber seals top and bottom to assure moisture free units which we pay $300 to make and have a model next to the road
frontage which we sell at $6500 and project to do a minimum of
1 per week yielding an additional $3500 x 12 = $42,000 and miscellaneous income of $20.000/ year from building patios
and/or garages for customer homes less than 10 years old moving
into the park. Being a mobile home dealer I believe we can at least
sell one new home at a $20,000 net profit. Therefore total gross
income should be $38,000 + $42,000 + $20,000 +$20,000 = $120,000

We estimate monthly expenses to be $1500/month being $18,000
annually thus netting over $100,000 annually which would value the park at 10x Net or approximately $1 Million

I am very fortunate to have the park manager for the former owner who has cut back limbs from the beautiful trees on the property and complete utilities and put cement pads in for 10 spaces for the homes coming in. The shaded spaces and centrally located park
are a huge advantage over all other parks in the greater Dothan area/

I own Mobile Homes USA with my main sales lot being close by in Chipley, Florida and can provide new and used mobile homes at
wholesale pricing to the park.

Location

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

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Park Information

Community Type: All Age
Number of MH Lots: 10
Total Occupancy: 30.0 %
Year Built: 1967
Average MH Lot Rent: $300
Size: 3 acre(s)

Financial Information (Pro Forma)

Gross Income $120,000
Operating Expense $18,000
Net Operating Income $102,000
Expense Ratio 15.0 %
Debt Info 0

Lot Information

Singlewide Lots: 9
Doublewide Lots: 1
Triplewide Lots: 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: $300

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