Contact Information

Mobile Home Park Details

  • Price: $1,800,000
  • Purchase Method: Cash, New Loan
  • Cap Rate: 7.8%
  • Property ID: 1374267
  • Posted On: Jan 2, 2021
  • Updated On: Jan 2, 2021

Property Description

16 units, each unit is on roughly 5 acres.
14 of the units are park owned. 1 RV spot.
1 pad rental.
Water is $500 a month
Trash is $400 a month
Tenants pay their own electric and propane.
The units are all older, but in very high demand. Each 5 acre lots is fenced and many tenants have horses, chickens and goats.

Sorry for lack of pictures, I am currently in MX

Location

12 minutes from large grocery stores, restaurants and schools. 25 minutes to downtown Colorado Springs.

Interested in purchasing this mobile home park? Get pre-qualified for a loan.

Park Information

Community Type: All Age
Number of MH Lots: 16
Total Occupancy: 100.0 %
Average MH Lot Rent: $900
Size: 80 acre(s)

Financial Information (Actual)

Gross Income $170,400
Operating Expense $30,000
Net Operating Income $140,400
Expense Ratio 17.6 %
Debt Info

Lot Information

Singlewide Lots: 15
Doublewide Lots: 0
Triplewide Lots: 0
Park Model Lots: 0

RV Information

Number of RV Lots: 1
Average RV Lot Rent: $450

Utility Information

Water: City
Water Paid By: Park
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 14
Average Rent for Park-owned Homes: $940