Mobile Home Park Details

  • Purchase Method: Cash, Seller Financing, Assumable Loan
  • Cap Rate: 8.0%
  • Listing ID: 1902381
  • Posted On: Oct 5, 2022
  • Updated On: Jan 4, 2023

Description

Welcome to your starter park you have been looking for. This has been a good park for us, but we have other things that are drawing our attention away.

22 lots, 13 occupied TOHs, and 2 POHs(vacant) city water/sewer sub metered with metron meters. Individual trash that can be billed back.

WE have never raised lot rent since we took over 2 years ago. We have fixed the sewer line and water lines within the park as well.

Park is small, but solid cash flow for someone who wants to get started or is looking to see what MHP is about.

There is a seller financing note that is assumable by qualified buyer, 150k left on it. 5 years its due in full.

Interested in purchasing this mobile home park? Get pre-qualified for a loan.

Park Information

Community Type: All Age
Number of MH Lots: 22
Total Occupancy: 70.0 %
Year Built: 1975
Average MH Lot Rent: $250
Size: 5 acre(s)

Financial Information (Actual)

Gross Income: $40,000
Operating Expense: $14,000
Net Operating Income: $26,000
Expense Ratio: 35.0 %
Debt Info: assumable seller financing note(150,000 left on note for 5 more years)

Lot Information

Singlewide Lots: 22
Doublewide Lots: 1

Utility Information

Water: City
Water Paid By: Tenant - Submetered
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 2
Average Rent for Park-owned Homes: $0

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