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

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.

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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