Mobile Home Park Details
- Purchase Method: Cash, Seller Financing, New Loan
- Cap Rate: 10.8%
- Listing ID: 1993581
- Posted On: Jan 14, 2023
- Updated On: Nov 16, 2023
Description
Briarcliff Estates features 44 individually deeded lots with direct bill city water and sewer. Immaculate paved roads, maintained by the city. 90% occupancy rates with 4 vacant homes. Priced at over a 10% cap rate off of 2022 actuals and a 13% cap rate on 2023 pro-forma. Immediate Cash Flow Generator.
Owner Financing Available.
Interested in purchasing this mobile home park? Get pre-qualified for a loan.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 44 |
| Total Occupancy: | 93.0 % |
| Average MH Lot Rent: | $300 |
| Size: | 17 acre(s) |
Financial Information (Pro Forma)
| Gross Income: | $262,061 |
| Operating Expense: | $104,824 |
| Net Operating Income: | $157,235 |
| Expense Ratio: | 40.0 % |
| Debt Info: | Owner Financing Available |
Lot Information
| Singlewide Lots: | 44 |
| Doublewide Lots: | 44 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Individual Service |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 35 |
| Average Rent for Park-owned Homes: | $700 |
