Contact Information

Martin Smith
Big Rapids Acquisition Group Inc.

Mobile Home Park Details

  • Price: $1,895,000
  • Purchase Method: Cash, New Loan
  • Cap Rate: 7.0%
  • Property ID: 1452772
  • Posted On: Jun 5, 2021
  • Updated On: Apr 15, 2022

Property Description

36 Sites - City Water & City Sewer DIRECT BILLED TO TENANTS. No submetering needed. No lift station or grinder pumps, No water wells. All gravity flow. Class A - Newer Build out - Concrete Roads, Concrete Sidwalks. Outside City. Awesome Opportunity to pick up a CASH COW.

Location

Alger - Ohio

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Park Information

Community Type: All Age
Number of MH Lots: 36
Total Occupancy: 85.0 %
Year Built: 1998
Average MH Lot Rent: $445
Size: 5 acre(s)

Financial Information (Actual)

Gross Income $160,000
Operating Expense $40,000
Net Operating Income $120,000
Expense Ratio 25.0 %
Debt Info N/A

Lot Information

Singlewide Lots: 36

Utility Information

Water: City
Water Paid By: Tenant - Individual Service
Sewer: City

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