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Twin Oaks 420 Oaks Drive, Kinston, NC 28504

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Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 11.9% (Actual)
  • Listing ID: 1641079
  • Posted On: Apr 6, 2022
  • Updated On: Oct 6, 2022

Description

Park is located outside city of Kinston, approx. 7 miles, in country.

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Park Information

Community Type: All Age
Number of MH Lots: 21
Total Occupancy: 95.0 %
Year Built: 1986
Average MH Lot Rent: $225
Size: 6 acre(s)

Financial Information (Actual)

Gross Income: $96,420
Operating Expense: $7,100
Net Operating Income: $89,320
Expense Ratio: 7.4 %

Lot Information

Singlewide Lots: 20
Doublewide Lots: 1
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 - Individual Service
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 13
Average Rent for Park-owned Homes: $475

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