Contact Information
Ron Pillay
Spring Cove RV Park LLC
Spring Cove RV Park LLC
Mobile Home Park Details
- Price: $1,100,000
- Distressed: This property is in default, REO or in foreclosure.
- Purchase Method: Cash, Seller Financing
- Cap Rate: 11.0%
- Listing ID: 2963167
- Posted On: May 19, 2023
- Updated On: Jun 5, 2023
Description
44 site with room for additional sites on 10 acres - Borrower had defaulted and missed payments and failed to upkeep, pay the property taxes. Once we have Foreclosed through the courts successfully and then we will sell to the highest bidder or the highest cash offer.
We are exploring our options and may change accordingly has we feel we have too.
Location
Close to Casino's, Walmart, banks, restaurant's, north eastern university and
Interested in purchasing this mobile home park? Get pre-qualified for a loan.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 44 |
| Total Occupancy: | 90.0 % |
| Year Built: | 1985 |
| Average MH Lot Rent: | $300 |
| Size: | 10 acre(s) |
Financial Information (Pro Forma)
| Gross Income | $240,000 |
| Operating Expense | $96,000 |
| Net Operating Income | $144,000 |
| Expense Ratio | 40.0 % |
| Debt Info |
Lot Information
| Singlewide Lots: | 44 |
| Doublewide Lots: | 0 |
| Triplewide Lots: | 0 |
| Park Model Lots: | 44 |
RV Information
| Number of RV Lots: | 2 |
| Average RV Lot Rent: | $300 |
Utility Information
| Water: | City |
| Water Paid By: | Park |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 44 |
| Average Rent for Park-owned Homes: | $500 |
Download Documents
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