Mobile Home Park Details
- Purchase Method: Cash, Seller Financing, New Loan
- Cap Rate: 15.0% (Pro Forma)
- Listing ID: 252559
- Posted On: Aug 21, 2012
- Updated On: Oct 10, 2012
Description
MAKE ME ANY OFFER! MUST CLOSE FAST! Great Opportunity for huge returns! This property must go! Settlement to occur ASAP. The property includes a stick built ranch style structure, zoned for 40 units, currently has 29 on it, 28 are park owned. The property currently brings in $223,000 a year with $37,000 in expenses. That means you realize a 15% Cap Rate. The property has a laundry facility and room for a storage facility. The property is serviced by 1 well and 3 septic’s. The tenants and staff do not know the property is being sold, so please schedule a time to view it with us. Please NO entering the premises without permission. Contact Us for a flyer. We maybe able to negotiate seller financing from the owner if you wish to partner with us.
Amenities
- Laundromat
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 40 |
| Total Occupancy: | 95.0 % |
| Size: | 10 acre(s) |
Financial Information (Pro Forma)
| Gross Income: | $223,140 |
| Operating Expense: | $37,858 |
| Net Operating Income: | $185,282 |
| Expense Ratio: | 17.0 % |
Utility Information
| Water: | Well |
| Water Paid By: | Park |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 28 |
| Average Rent for Park-owned Homes: | $750 |