Contact Information

Frank Rizzo
Cornerstone Realty

Mobile Home Park Details

  • Price: $999,000
  • Cap Rate: 8.3%
  • Property ID: 1651526
  • Posted On: Apr 21, 2022
  • Updated On: Apr 21, 2022

Property Description

Tremendous Investment Opportunity.​ 32 Pad MHP to include 30 POH's and 1 TOH on well and septic.​
Current rent roll of $13,920 with avg POH rental of $529.00.​ 24 of the homes are 3 BD / 2 BA, room for upside on the rents.​

Super clean and turnkey, with initial round of upgrades done throughout the park, to include paved roads, new mailboxes, skirting and roofs.​

Located along main thoroughfare, each home features a large lot, great spacing and strong community look and feel to it.​

Great value with upside.​

Location

Main thoroughfare, located on Highway 128.

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Park Information

Community Type: All Age
Number of MH Lots: 32
Total Occupancy: 84.0 %
Year Built: 1993
Average MH Lot Rent: $529
Size: 28 acre(s)

Financial Information (Pro Forma)

Gross Income $167,040
Operating Expense $83,520
Net Operating Income $83,520
Expense Ratio 50.0 %
Debt Info

Utility Information

Water: Well
Water Paid By: Park
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 30
Average Rent for Park-owned Homes: $539

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