Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park

Mobile Home Park Details

  • Purchase Method: Cash
  • Listing ID: 17544
  • Posted On: Oct 23, 2010
  • Updated On: Oct 24, 2011

Description

A beautiful park consisting of 45 lots with 24 park owned homes located on 19 acres. Park has large spacious lots with paved streets and keyed mailboxes. Lot rent is $225/month and homes rent from $500 - $650/month. Park has a well water system and septic tanks for sewer. Park is centrally located with seven towns within 5 to 15 minute drive times

Income after vacancies/turnover presently is $180,000/year with four vacant lots. Placing four repos on these vacant lots would increase income to $207,000/year. Lot and most home rentals could easily go up $25/month adding another $12,000+ to income.
(Park five miles down the road rents lots for $285/month on dirt roads!)

Potential gross income with four repos added and rent increases @100% occupancy $234,000

Location

Centrally located near Raleigh, Wake Forest, Louisburg, Bunn, Youngsville, Rolesville and Zebulon

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Park Information

Community Type: All Age
Number of MH Lots: 45
Year Built: 1983
Average MH Lot Rent: $225
Size: 19 acre(s)

Financial Information

Gross Income: $0
Operating Expense: $0
Net Operating Income: $0

Lot Information

Singlewide Lots: 0
Doublewide Lots: 0

Utility Information

Water: Well
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 24
Average Rent for Park-owned Homes: $550

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