Mobile Home Park Details
- Purchase Method: Cash, Seller Financing, New Loan
- Cap Rate: 17.0%
- Listing ID: 19983
- Posted On: Mar 4, 2011
- Updated On: Oct 18, 2013
Description
ESTABLISHED MOBILE HOME PARK with 14 park owned homes and 6 lot rentals...PLUS 2 BD. 1 BA. HOME and 2 BD. 1 BA.GARAGE APT. and INGROUND POOL!!! GREAT INVESTMENT PROPERTY...live on site and operate park or use as all rentals!!! Lot rents are $195.00 monthly, home rentals range from $375-$450, and garage apt. $500...parcel consist of over 8 acres(portion of property at bottom in flood plain)Contact listing agent for more details and showing instructions. Owner has an additional 20 unit park that can be purchased as a package deal or sold seperately.
Location
Property located near Morganton(approx. 5 miles outside of city limits. Call for directions.
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Park Information
| Community Type: | All Age |
| Number of MH Lots: | 20 |
| Total Occupancy: | 97.0 % |
| Average MH Lot Rent: | $195 |
| Size: | 8 acre(s) |
Financial Information (Pro Forma)
| Gross Income: | $98,040 |
| Operating Expense: | $12,107 |
| Net Operating Income: | $85,933 |
| Expense Ratio: | 12.3 % |
Lot Information
| Singlewide Lots: | 20 |
Utility Information
| Water: | City |
| Water Paid By: | Park |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 14 |
| Average Rent for Park-owned Homes: | $425 |
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