Mobile Home Park Details
- Purchase Method: Cash, Seller Financing, New Loan
- Cap Rate: 8.0% (Actual)
- Listing ID: 19984
- Posted On: Mar 4, 2011
- Updated On: Dec 11, 2023
Description
This a beautiful community located in the "Treasure of Colorado" all but five spaces are occupied and of those three are park owned homes undergoing renovation. They have recently worked out a deal with the city on them taking over sewer billing so this 23,000 dollar a year expense will end as of March 1 2011. Another great feature is the roads are owned and maintained by the city and each unit is individually metered for electric that is billed by the electric company not the park. This a great community with very little respondsibility if you are looking for a turn key opprotunity THIS IS AA GREAT INVESTMENT!! Emloyment is plentyful dont miss this opprotunity. Call for any additional information. If you are a pilot there is an airfield near by!
Location
Northeastern Colorado
Amenities
- Storage
- Club House
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 112 |
| Total Occupancy: | 95.0 % |
| Year Built: | 1972 |
| Average MH Lot Rent: | $235 |
Financial Information (Actual)
| Gross Income: | $303,000 |
| Operating Expense: | $73,000 |
| Net Operating Income: | $230,000 |
| Expense Ratio: | 24.1 % |
Lot Information
| Singlewide Lots: | 112 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Individual Service |
| Sewer: | City |