Mobile Home Park Details
- Purchase Method: Cash
- Cap Rate: 10.0% (Actual)
- Listing ID: 282147
- Posted On: Mar 1, 2013
- Updated On: Sep 29, 2014
Description
42 lot Mobile Home Community with 25 lots leased. Property features 2 homes with foundations 1 double wide 24X32 with 4 BRs,1.5 baths and attached office area 8X30. 1 cape cod 3 BR,1 bath home with basement. Separate maintenance building 20X30 and a 20X12 shop & water system area.3 park owned manufactured homes. Land per survey consists of 8.8 acres. Park has 2 wells DEP licensed small community water systems and DEP approved septic systems. Gravel roads, asphalt entrance driveways 21 lots are occupied with homes owned by lessees. Strong demand for leased homes when available. With a source for homes for sale or lease lots would likely fill. All maintenance equipment including truck with snowplow and tractors and mowers to operate the park go with the sale. Located on both sides of State Route 8 just 3 miles north of Titusville, PA.
Location
North Western Pennsylvania
Located on both sides of State Route 8 just 3 miles north of Titusville, PA
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 42 |
| Total Occupancy: | 60.0 % |
| Year Built: | 1971 |
| Average MH Lot Rent: | $250 |
| Size: | 9 acre(s) |
Financial Information (Actual)
| Gross Income: | $97,518 |
| Operating Expense: | $64,129 |
| Net Operating Income: | $33,388 |
| Expense Ratio: | 65.8 % |
| Debt Info: | debt not assumable |
Lot Information
| Singlewide Lots: | 36 |
| Doublewide Lots: | 6 |
Utility Information
| Water: | Well |
| Water Paid By: | Park |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 5 |
| Average Rent for Park-owned Homes: | $548 |