Photo of Manufactured Home Community
Photo of Mobile Home Park
Mobile Home Park Details
- Purchase Method: Cash, Seller Financing, New Loan
- Cap Rate: 15.0%
- Listing ID: 334837
- Posted On: Nov 14, 2012
- Updated On: Feb 9, 2013
Description
11 unit mobile home park, 100% rented, all units well maintained. There are 10 mobile homes and one apartment unit. Many of the MH have new roofs and drain fields. Some have new A/C and all have been regularly serviced. Property is a corner location and a peaceful setting not far from town. There are many stable, long term tenants. Rents range from $475-$625. Owner financing with $100,000 down, 7% mortgage, amortized 30 years with a 5 year balloon.
Location
From US 90 and US 41 in Lake City, FL go South 6.2 miles to Alfred Markham (CR 133), 1.1 miles to Parmer MH Park on Right at corner of Alfred Markham and Mayhall.
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Park Information
| Community Type: | All Age |
| Number of MH Lots: | 11 |
| Total Occupancy: | 100.0 % |
| Average MH Lot Rent: | $550 |
| Size: | 4 acre(s) |
Financial Information
| Gross Income: | $66,600 |
| Operating Expense: | $13,168 |
| Net Operating Income: | $53,432 |
| Expense Ratio: | 19.8 % |
Utility Information
| Water: | Well |
| Water Paid By: | Tenant - Individual Service |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 11 |
| Average Rent for Park-owned Homes: | $550 |
