Mobile Home Park Details
- Cap Rate: 8.6%
- Listing ID: 2026788
- Posted On: Jan 26, 2023
- Updated On: Apr 5, 2023
Description
• 45 Total Lots
• 2 Adjacent Parks
• Significant Value add through Infill
• Priced at $28,899 a lot, well below recent comp sales in the area. PRICED TO SELL
• Onsite Manager handles both parks
• All Tenants Pay electronically
• City Water (both parks)
• Paved Road (Maplewood) / Gravel Road (Town & Country)
• Asset is well positioned for growth given area population, rental demand and major employers in the area
Location
•Louisville International Airport 45 Min drive / 41 Miles from Parks
• 11% + Population growth since 2020
• Median Home Price of $200k
• Average HH income of $101k within 1 mile of parks.
• Ford Motor Co. spending $5.8 Billion to build plant in the area. Blue
Oval will be located 20 mins. south of parks and will create over
5000 new jobs.
• Strong growth area with a solid tenant base
Park Information
| Number of MH Lots: | 45 |
| Year Built: | 1970 |
| Size: | 7 acre(s) |
Financial Information (Actual)
| Gross Income: | $165,780 |
| Operating Expense: | $53,506 |
| Net Operating Income: | $112,274 |
| Expense Ratio: | 32.3 % |
Utility Information
| Water: | City |
| Sewer: | Septic |
