Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 6.5% (Actual)
- Listing ID: 1677089
- Posted On: May 26, 2022
- Updated On: Jun 9, 2022
Description
Well established stabilized park in a great growth area. No vacancies or "pull outs" since it's inception over 20 years ago. Managed from Florida for over 6 years with little effort. Minimal expenses with "lots only". Updated and maintained regularly.
Location
Ideally located between the downtowns of Mebane and Hillsborough just off of I-40 and I-85 near the Research Triangle Park and Duke University and Elon University.
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Park Information
| Community Type: | All Age |
| Number of MH Lots: | 12 |
| Total Occupancy: | 100.0 % |
| Year Built: | 1998 |
| Average MH Lot Rent: | $396 |
| Size: | 3 acre(s) |
Financial Information (Actual)
| Gross Income: | $57,672 |
| Operating Expense: | $12,843 |
| Net Operating Income: | $44,829 |
| Expense Ratio: | 22.3 % |
| Debt Info: | Cash or new loan |
Lot Information
| Singlewide Lots: | 11 |
| 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: | 0 |
| Average Rent for Park-owned Homes: | $396 |
