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EL Rancho 5551 Johnson Road, Coconut Creek, FL 33073

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Mobile Home Park Details

  • Purchase Method: Cash
  • Cap Rate: 7.0% (Pro Forma)
  • Listing ID: 16827
  • Posted On: Sep 28, 2010
  • Updated On: Oct 19, 2010

Description

Well located 68 pad park situated on 7 acres with a current occupancy of 90%. Always enjoys strong occupancy and easy to manage. 37 park owned homes (35 single wide & 2 double wide).

Location

Desirable location just east of SR 7 (US 441) in Coconut Creek, Florida. Surrounded by high quality commercial and residential projects. Excellent future development potential.

Amenities

  • Laundromat
  • Pool
  • Club House
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Park Information

Community Type: All Age
Number of MH Lots: 68
Total Occupancy: 90.0 %
Average MH Lot Rent: $550
Size: 7 acre(s)

Financial Information (Pro Forma)

Gross Income: $484,560
Operating Expense: $170,400
Net Operating Income: $314,160
Expense Ratio: 35.2 %

Utility Information

Water: City
Water Paid By: Park
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 37
Average Rent for Park-owned Homes: $642