Contact Information

Victor Cheechov

BuzzPark, Inc.

Mobile Home Park Details

  • Price: $75,000
  • Purchase Method: Cash, New Loan
  • Cap Rate: 16.5%
  • Property ID: 1452838
  • Posted On: Jun 6, 2021
  • Updated On: Jun 6, 2021

Property Description

older homes with 40 % occupancy. Long term tenants in place. Two units can be remodeled, but other 3 need torn down. The tenth has been torn down already. County water, Duke Energy, and septic tank system. All park owned homes, but only maintain 1 of 4 rented. The other 3 ( $250 per month ) are treated like tenant owned homes. 1 ( $450 ) is a full rental.

Location

Located in Cumberland County, near a major apartment complex, and near the Walmart on Hwy 210

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Park Information

Community Type: All Age
Number of MH Lots: 10
Total Occupancy: 40.0 %
Year Built: 1960
Average MH Lot Rent: $250
Size: 1 acre(s)

Financial Information (Actual)

Gross Income $14,400
Operating Expense $2,000
Net Operating Income $12,400
Expense Ratio 13.9 %
Debt Info no debt

Lot Information

Singlewide Lots: 10
Doublewide Lots: 0
Triplewide Lots: 0
Park Model Lots: 0

RV Information

Number of RV Lots: 0
Average RV Lot Rent: $0

Utility Information

Water: City
Water Paid By: Tenant - Submetered
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 10
Average Rent for Park-owned Homes: $250