Mobile Home Park Details

  • Purchase Method: Cash
  • Cap Rate: 9.0%
  • Listing ID: 1563158
  • Posted On: Nov 25, 2021
  • Updated On: Feb 21, 2022

Description

This property has 5 park-owned homes spread across 3 parcels. 4 homes are on adjacent parcels while the 5th is about 1 block away. These are being sold as a package. Each home has its own septic system. The owner has recently contracted to install new water meters, so each tenant will pay their own water. Age of homes are 1987, 1995, 1996, 1999, 2002. Operating expense includes 10% for management company. 2 homes have new shingle roofs (less than 3 years old). All septic systems have been pumped in the last 6 months.

Location

Indian Hills Subdivision near Lake Hartwell

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Park Information

Community Type: All Age
Number of MH Lots: 5
Total Occupancy: 100.0 %
Year Built: 1995
Average MH Lot Rent: $0
Size: 1 acre(s)

Financial Information (Actual)

Gross Income: $33,900
Operating Expense: $18,400
Net Operating Income: $16,550
Expense Ratio: 54.3 %

RV Information

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

Utility Information

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

Park-Owned Homes

Number of Park-owned Homes: 5
Average Rent for Park-owned Homes: $565