Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 8.0%
  • Property ID: 1381525
  • Posted On: Jan 19, 2021
  • Updated On: Feb 18, 2021

Property 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

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