Mobile Home Park Details
- Cap Rate: 10.6% (Actual)
- Listing ID: 1689682
- Posted On: Jun 13, 2022
- Updated On: Oct 21, 2022
Description
Park overview
-11 total rentable units
-10 Park Owned Homes
-1 Single Family House (Onsite Manager lives in for free rent)
-Approx. 3 cleared acres to add more lots with spare well, pump,
pressure tank installed.
-Approx. 31.8 acres in total. Park takes up about 5 acres as it is today
-Parks Manager lives rent free in home
- Handles landscape, maintenance & repairs, rent collections, meets
with vendors
Utilities
-3 wells on property, 2 in use. (Owner pays electric for well pump)
-FPL Electric, each unit metered
-Waste Management Dumpster (Owner Pays)
-Septic systems (tank / drain field setup)
Value Add Opportunity
-Add 4 or more units to vacant cleared section supported by extra well. (Subject to county zoning approvals)
-Bring rents up to market levels
Location
-Rural Small town with high demand for affordable housing
-Walmart in town
-Schools, State and County Gov't buildings located in town
Park Information
| Number of MH Lots: | 11 |
| Total Occupancy: | 99.0 % |
| Size: | 32 acre(s) |
Financial Information (Actual)
| Gross Income: | $72,300 |
| Operating Expense: | $13,251 |
| Net Operating Income: | $58,326 |
| Expense Ratio: | 18.3 % |
Lot Information
| Doublewide Lots: | 11 |
Utility Information
| Water: | Well |
| Water Paid By: | Park |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 11 |
| Average Rent for Park-owned Homes: | $625 |
