Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 11.6% (Actual)
- Listing ID: 1607161
- Posted On: Feb 17, 2022
- Updated On: Sep 1, 2022
Description
20 Mobile home spaces on 19 acres @ 8% Cap + POH income = 11.59% Cap
Hi this 20 space park includes 12 park owned mobile homes and 8 tenant owned mobile homes. I valued the park at an 8% cap on its own and then valued the 12 homes at a 15% cap. You could move to sell off the mobile homes or hold and rent them for 7 years and make back your full investment on the 12 homes and then sell them off to make some extra profit and create an interest stream. The park has a rural feel with nice big views, with access to off-highway-vehicles [OHV] area at the Littlerock Dam but is only 8 minutes from Lowes Home Improvement Store and Walmart. Download the Opportunity Report details for more info
Location
Near Littlerock Dam, 8 minutes from Lowes and Walmart
Amenities
- Laundromat
- Storage
Interested in purchasing this mobile home park? Get pre-qualified for a loan.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 20 |
| Total Occupancy: | 100.0 % |
| Year Built: | 1959 |
| Average MH Lot Rent: | $438 |
| Size: | 19 acre(s) |
Financial Information (Actual)
| Gross Income: | $236,329 |
| Operating Expense: | $103,031 |
| Net Operating Income: | $133,298 |
| Expense Ratio: | 43.6 % |
Utility Information
| Water: | Well |
| Water Paid By: | Tenant - Submetered |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 12 |
| Average Rent for Park-owned Homes: | $559 |
