Mobile Home Park Details
- Purchase Method: Cash, Seller Financing, New Loan
- Cap Rate: 8.5%
- Listing ID: 1731751
- Posted On: Aug 9, 2022
- Updated On: Apr 1, 2024
Description
38 sites - 37 Licensed Mobile Home Lots - room for doublewide on all lots. Public water and public sewer. One 3 bedroom home = 38 Total Rental Units on 16.70 acres. - Tenant Owned Mobiles. House is not part of the 37 mobile home sites and is rented out. Three titles for mobile homes included in sale. 5.5% INTEREST ONLY SELLER FINANCING LOAN ON FULL ASKING WITH 50% DOWN TO QUALIFIED BUYERS. Low expense ratio. Submetered Master Meter Service - Tenants direct billed for trash pick and more. 13% CASH ON CASH RETURN WITH INTEREST ONLY SELLER FI. LOAN
Location
75% paved roads // Beautiful area - about a 5 minute drive to beach. 5 minutes to Local Hospital -- Long term residents
Interested in purchasing this mobile home park? Get pre-qualified for a loan.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 38 |
| Total Occupancy: | 70.0 % |
| Average MH Lot Rent: | $365 |
| Size: | 17 acre(s) |
Financial Information (Actual)
| Gross Income: | $116,500 |
| Operating Expense: | $30,000 |
| Net Operating Income: | $85,000 |
| Expense Ratio: | 25.8 % |
| Debt Info: | N/A |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Individual Service |
| Sewer: | City |