Mobile Home Park Details
- Purchase Method: Cash, Seller Financing, New Loan
- Listing ID: 17680
- Posted On: Oct 28, 2010
- Updated On: Oct 28, 2010
Description
Fantastic park located in a small community that is in need of additional, quality housing. 10 spots in total - price includes land and 3 homes located on the premisis - Also included is a brand new commercial building built specifically for a long term tenant that is operating a very successful daycare center in it. over $100,000 spent to build this building to state specifications.
New sewer and electrical transformers for the property - 5 rental spots have had completely refinished utilities. Fantastic income property and have never had a problem finding and keeping tenants.
Location
Rural town of Mcleansboro, population 3,000 - Strong community that is expecting 3 new coal mines to be built over the next five years creating huge economic growth.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 10 |
| Total Occupancy: | 50.0 % |
| Year Built: | 1960 |
| Average MH Lot Rent: | $100 |
| Size: | 1 acre(s) |
Financial Information (Actual)
| Gross Income: | $18,955 |
| Operating Expense: | $1,355 |
| Net Operating Income: | $17,455 |
| Expense Ratio: | 7.1 % |
Lot Information
| Singlewide Lots: | 10 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Submetered |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 3 |
| Average Rent for Park-owned Homes: | $325 |