Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 7.4%
- Listing ID: 3892773
- Posted On: Oct 25, 2023
- Updated On: Mar 3, 2024
Description
Annual gross income $29700 with Cap rate of 8.4% before most recent vacancy. Rents have not increased for several years. See rent roll attached. Own this quiet, established mobile home park in Franklin County Va. Mobile homes convey with purchase. Total of 6 spaces. 5 MH on site, all park owned. Six septic systems. Two wells, one in use and one back up well. 3 acres cleared for park and 3 wooded acres also on this parcel allowing you to expand the park; Could potentially use backup well for any additional mobile homes. All tenants on month to month lease.
Location
Franklin County Va
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Park Information
| Community Type: | All Age |
| Number of MH Lots: | 6 |
| Total Occupancy: | 80.0 % |
| Size: | 6 acre(s) |
Financial Information (Actual)
| Gross Income: | $24,300 |
| Operating Expense: | $571 |
| Net Operating Income: | $23,729 |
| Expense Ratio: | 2.3 % |
| Debt Info: | NONE; cap rate figured on actual rents of 4 occupied MHs |
Lot Information
| Singlewide Lots: | 4 |
| Doublewide Lots: | 2 |
| Triplewide Lots: | 0 |
| Park Model Lots: | 0 |
RV Information
| Number of RV Lots: | 0 |
| Average RV Lot Rent: | $0 |
Utility Information
| Water: | Well |
| Water Paid By: | Park |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 5 |
| Average Rent for Park-owned Homes: | $481 |
