Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 5.5%
  • Listing ID: 1671727
  • Posted On: May 17, 2022
  • Updated On: Jul 9, 2022

Description

Looking for an excellent investment? Look no further. This is a 25 unit mobile home park that stays at 100% occupancy. Zero park owned homes. Zero headaches. Located in a large growing metro of 500k people. Median home price is 228k and quickly rising. Park is on City water and septic. I have owned the property for 6 years and have never had a single issue with the septic. I maintain (pump out) the tanks regularly (about every year or year and a half) and have all documentation. Tenants pay for water, sewer (costs to maintain system), and trash. Utilities are all billed to the tenants directly from a third party. This is an excellent cash flowing park priced reasonably. The price is firm. Serious inquiries only. Agents are welcome to bring buyers and can be paid by their buyer. Financial information provided is actual from 2021. Cap rate is estimated at current lot rent for 2022.

Per JLT Market Data: “In the Escambia County, Florida area, the average adjusted monthly homesite rent in the "All Ages" communities is $407, an increase of $28 (7.4%) from the previous published report. The average adjusted monthly homesite rent in the "55+" communities is $560, an increase of $103 (22.5%) from the previous published report.”

Therefore if you were to raise this parks lot rent of $300.00 to $407.00, the market average, you would have a double digit cash on cash return.

Tired of allowing your money to waste away with inflation? Put it to work!

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

Park Information

Community Type: All Age
Number of MH Lots: 25
Total Occupancy: 100.0 %
Year Built: 1970
Average MH Lot Rent: $300
Size: 4 acre(s)

Financial Information (Actual)

Gross Income: $88,990
Operating Expense: $31,094
Net Operating Income: $57,895
Expense Ratio: 34.9 %

Lot Information

Singlewide Lots: 23
Doublewide Lots: 2

Utility Information

Water: City
Water Paid By: Tenant - Submetered
Sewer: Septic

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