Contact Information

Neil Davis
NAI Horizon

Mobile Home Park Details

  • Price: $850,000
  • Purchase Method: Cash, New Loan
  • Cap Rate: 6.9%
  • Property ID: 1651181
  • Posted On: Apr 19, 2022
  • Updated On: May 11, 2022

Property Description

The current owner acquired the Florence Homestead
land with a recorded well agreement in 2008/2009.
He thought that the land had great potential for
residences based on its location on Highway
79.

The property shares a common well with an
unimproved parcel to the north. When the common
well was completed, only one Manufactured
Home existed. The owner went on to remodel the
existing unit and over the last 3 years added 3 more
Manufactured Homes and remodeled them as they
were added. The owner built the existing electronic
entry/gate, the compacted millings driveway
and enclosed backyards to give the Florence
homestead its current charm.

Each house in the Florence Homestead is on a separate parcel so
houses can be sold individually in the future or kept
as rentals for increasing cashflow. Please check out
the property brochure for more information.

Interested in purchasing this mobile home park? Get pre-qualified for a loan.

Park Information

Community Type: All Age
Number of MH Lots: 4
Total Occupancy: 100.0 %
Year Built: 2008
Size: 5 acre(s)

Financial Information (Actual)

Gross Income $67,800
Operating Expense $5,565
Net Operating Income $62,235
Expense Ratio 8.2 %
Debt Info

Lot Information

Doublewide Lots: 4

Utility Information

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

Park-Owned Homes

Number of Park-owned Homes: 4
Average Rent for Park-owned Homes: $13,501,500

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