Mobile Home Park Details
- Purchase Method: Cash, Seller Financing, New Loan, Assumable Loan
- Cap Rate: 21.0%
- Listing ID: 370944
- Posted On: May 2, 2013
- Updated On: May 30, 2014
Description
Price just reduced from $250,000 to $230,000 ! (Price to sell)
1) All cash ( OR )
2) $80,000cash down and seller finance $150,000 at 6% interest only, $750 monthly payment,
Price per space: $ 14,375
Potential gross rent $ 63,300
Net operating income: $ 48,492
Potential Cap rate: 22 %
Potential cash on cash return on $85K : 47% !
15 Trailers spaces + 1 House
Approximate I acre lot
Long Term Tenants
13 Tenant owned Trailer and 2 rent to own
85 % occupied
City water City sewer
Tenant pay own electric per individual meters
Experienced and reliable manager on-site
Very low maintenance Park
Absentee owner dream Park
(Please do not speak to anyone on-site and Tenants do not know the property is for sale. *** Drive-by only please! *** )
Owner / Seller (559) 356-4399 Direct or Text
Email address: wongpa333@gmail.com
Location
Directions to Park : Old Nogales Highway to Drexel West to South Fontana.
Amenities
- Storage
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 15 |
| Total Occupancy: | 85.0 % |
| Average MH Lot Rent: | $295 |
| Size: | 1 acre(s) |
Financial Information (Pro Forma)
| Gross Income: | $63,300 |
| Operating Expense: | $14,808 |
| Net Operating Income: | $48,492 |
| Expense Ratio: | 23.4 % |
| Debt Info: | seller finance or assumable 1st Loan |
Lot Information
| Singlewide Lots: | 16 |
RV Information
| Number of RV Lots: | 15 |
| Average RV Lot Rent: | $295 |
Utility Information
| Water: | City |
| Water Paid By: | Park |
| Sewer: | City |