Mobile Home Park Details
- Purchase Method: Cash
- Cap Rate: 6.5%
- Listing ID: 1644291
- Posted On: Apr 13, 2022
- Updated On: Nov 9, 2022
Description
Investors!!! Are you tired of looking for crazy deals on investment properties and coming up with a big turd? Mobile home parks have become THE CASH COW of real estate investing in recent years and this STELLER location near the high traffic area of 32nd street in Joplin will definitely rock your socks off!!! Having 16 mobile homes (15 owned by the park) as well as a 4 Plex unit that CASH FLOWS nice and STILL has more opportunity to increase cash flow with rent restructuring, adding additional units and tenant management.
Location
Located in the highly desirable area just off of 32nd street in Joplin
Amenities
- Storage
Interested in purchasing this mobile home park? Get pre-qualified for a loan.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 16 |
| Total Occupancy: | 90.0 % |
| Average MH Lot Rent: | $380 |
| Size: | 2 acre(s) |
Financial Information (Actual)
| Gross Income: | $157,000 |
| Operating Expense: | $100,000 |
| Net Operating Income: | $57,000 |
| Expense Ratio: | 63.7 % |
| Debt Info: | FULLY OWNED |
Lot Information
| Singlewide Lots: | 18 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Individual Service |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 4 |
| Average Rent for Park-owned Homes: | $600 |
