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
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 |