Mobile Home Park Details
- Purchase Method: Cash, Assumable Loan
- Cap Rate: 10.0% (Actual)
- Listing ID: 378016
- Posted On: Jun 13, 2013
- Updated On: Oct 1, 2015
Description
SOLD! Consists of 40 rented spaces: 21 mobile homes; 10 RV (8 permanent; 1 motorhome; 1 vacant); 7 cottages; 2 Lake/Canalfront homes. All tenants except one pay annually. This is an Adult Mobile Home Park with good rental history 99% full for at least 5 years in row with rents below market and have never been raised. Jan. 2014 rents have been raised and management salary to be added. Now tenants maintain their own sites with hourly labor to do minor maintenance/rent collection(if/when needed). 10% Cap rate either way. Call/email soon as this one won't last long on market. The only vacancy is a cottage used as storage/ can easily be rented. This is an Adult MH Park.
Location
Off US 27 and Hwy 98 to site on Lake Istokpoga. Majestic oaks throughout with a tranquil park setting; beautiful lake views.
Amenities
- Laundromat
- Storage
- Club House
Park Information
| Community Type: | 55 And Over |
| Number of MH Lots: | 21 |
| Total Occupancy: | 99.0 % |
| Size: | 6 acre(s) |
RV Information
| Number of RV Lots: | 31 |
Utility Information
| Water: | Well |
| Water Paid By: | Park |
| Sewer: | Septic |
