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Address is 247 Marmandie Avenue River Ridge, LA 70123

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Longstreet Mobile Village

Mobile Home Community for Sale in River Ridge, Louisiana

247 Marmandie Avenue
River Ridge, LA 70123

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Mobile Home Park for Sale

Number of MH Lots: 69
Size: 4 acre(s)
Cap Rate: 10.0%
Purchase Method: Cash, New Loan
Status: Active
Property ID: 281318
Posted on: Sep 28, 2012
Updated on: Mar 04, 2013

Property Description

The property is a 69 space mobile village located in River Ridge at 247 Marmandie Avenue, two blocks north of Jefferson Highway. Each mobile home site is individually metered for both sewer and electric. All utilities and roads are privately owned. The park is currently 97% leased with monthly rents between $320 - $375 and none of the mobile homes are owned by the park (all owned by tenants). Also, not included in gross revenue number below is the potential for laundry income, which is not currently in operation but brought in $4,800 in previous years.

Location Description

Greater New Orleans Area (River Ridge, LA)

Park Information

Number of MH Lots:69
Total Occupancy:97.0%
Average MH Lot Rent: $340
Size:4.0 acre(s)

Financial Information (Actual)

Gross Income$272,723
Operating Expense$70,473
Net Operating Income$202,250
Expense Ratio 25.8%
Debt Info

Lot Information

Singlewide Lots:69

RV Information

Number of RV Lots:0

Utility Information

Water Paid By: Tenant - Submetered

Park-Owned Homes

Number of Park-owned Homes:0

Amenities and Other

Laundromat: Yes

Zip codes in River Ridge, LA

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