Contact Information
David Boshart
Mobile Home Park Details
- Price: $175,000
- Purchase Method: Cash, Assumable Loan
- Property ID: 1364274
- Posted On: Dec 4, 2020
- Updated On: Dec 26, 2020
Property Description
For 1/2 Interest in the Park which I am developing for Section 8 Housing for an average lot rental of $550/month guaranteed and paid by the Government This well create a total monthly income of our 13 lots of $7150 when developed out in 3-6 months max and
startup costs of $60,000 for additional homes and installation
and $15,000 misc costs or a net income for year ending 12/31/2021
of break even to $10,000 depending on time to develop out.
For the year ending 3/31/2022 or 6/30/22 our net income should
be appx $85,000 minus taxes and misc expenses of $70,000 creating a valuation of $600,000 to $700,000 at that time.
I would also consider selling ALL of the park for $300,000 cash for a passive investor who would like us to develop out for him. I am mobile home dealer and can buy and install homes at wholesale
and have management in place for marketing, maintenance and
repairs and accounting
Location
No other park in the area -strong demand for affordable housing. Solid infrastructure with City Water, Sewer and Electric
Park Information
Community Type: | All Age |
Number of MH Lots: | 13 |
Total Occupancy: | 30.0 % |
Average MH Lot Rent: | $300 |
Size: | 3 acre(s) |
Utility Information
Water: | City |
Water Paid By: | Park |
Sewer: | Septic |