For Sale by Owner - 24 total spaces with 22 occupied. 2 spaces are partially developed. Community has 9 TOH, 9 LOP, and 4 POH rentals. Electrical park infrastructure was redone in past 5 years. Almost all water water lines have been replaced in same time frame. Municipal water billed back to tenants using remote read (cell phone tower) meters. 3 street side homes are direct billed for water. All electric direct billed. Community has a recently added children's playground and picnic area. Over $150,000 has been spent over the past 2 years bringing in homes, rehabbing vacant POHs, paving roads, and improving infrastructure. There is a maintenance building onsite. Homes are on 2 x 1 and 1 x 1 septic systems. Currently running at $75k NOI on lot rent. Asking 7.0% cap rate on lot rent, 90% of LOP note value, and shell value on 4 rentals. Family oriented and good tenant base. Local manager who is also a well connected local contractor - would very likely stay on managing community. Please do not disturb any tenants or manager as they are unaware of any sale. Terms Negotiable. Have indicative debt quote for buyer
@ $750,000 with attractive terms.