Mobile Home Park Details
- Purchase Method: Cash
- Cap Rate: 10.0% (Actual)
- Listing ID: 1620383
- Posted On: Mar 8, 2022
- Updated On: Apr 6, 2023
Description
16 Singlewide lots. Strong local job market and rental demand. All lots are individually metered and have city power, water, and sewer. Area can support $350- $400 lot rent.
Location
945 Park Dr, Statesville, NC
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Park Information
| Community Type: | All Age |
| Number of MH Lots: | 16 |
| Total Occupancy: | 50.0 % |
| Year Built: | 1955 |
| Average MH Lot Rent: | $400 |
| Size: | 2 acre(s) |
Financial Information (Actual)
| Gross Income: | $50,000 |
| Operating Expense: | $8,000 |
| Net Operating Income: | $42,000 |
| Expense Ratio: | 16.0 % |
Lot Information
| Singlewide Lots: | 16 |
| 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: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 10 |
| Average Rent for Park-owned Homes: | $575 |
