Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 8.0%
- Listing ID: 1381525
- Posted On: Jan 19, 2021
- Updated On: Feb 18, 2021
Description
8% CAPITALIZATION 18 mobile home sites and 8 individual garage stalls. Current rent is underpriced at $175/month for home rent. This court has been 100% rented for the past 10 years. All sites and garage units are currently 100% full. Lot price should be increased to $200/month. Tenants are 100% responsible for their own utilities. The park roads are owned and maintained by the City (WOW!)
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Park Information
| Community Type: | All Age |
| Number of MH Lots: | 18 |
| Total Occupancy: | 100.0 % |
| Average MH Lot Rent: | $200 |
| Size: | 1 acre(s) |
Financial Information (Pro Forma)
| Gross Income: | $48,000 |
| Operating Expense: | $8,000 |
| Net Operating Income: | $40,000 |
| Expense Ratio: | 16.7 % |
| Debt Info: | 0 |
Lot Information
| Singlewide Lots: | 18 |
| Park Model Lots: | 18 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Submetered |
| Sewer: | City |