Mobile Home Park Details

  • Cap Rate: 10.0%
  • Listing ID: 3043588
  • Posted On: May 31, 2023
  • Updated On: Aug 21, 2023

Description

-13 unit mobile home park.
-3 bedroom, 2 baths on all except for #2, which is a 2/2.
-All units are currently park owned.
-Utilities are individually metered. Septic is 1:1 without issues and well maintained.
-Units 3-13 all have new roofs and have been renovated within the last 4 years.
-Very high demand for affordable housing in this area, a lot of room for rent appreciation when filling vacancies or renewing leases. Rents have appreciated 10+% YoY each of the last 5 years

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Park Information

Community Type: All Age
Number of MH Lots: 13
Total Occupancy: 100.0 %
Year Built: 2020
Size: 5 acre(s)

Financial Information (Pro Forma)

Gross Income: $97,320
Operating Expense: $29,000
Net Operating Income: $68,124
Expense Ratio: 29.8 %

Lot Information

Singlewide Lots: 13

Utility Information

Water: City
Water Paid By: Tenant - Individual Service
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 13
Average Rent for Park-owned Homes: $625