Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 3.4% (Pro Forma)
- Listing ID: 4001223
- Posted On: Nov 16, 2023
- Updated On: Jan 23, 2024
Description
This property offers an extraordinary amount of potential for any savvy builder or developer. Two single-family residences and 8 separate lots which total approximately 0.88 acres of land. All land and both residences must convey together. The two residences are solidly built and offer two bed/one bath rentals for the current owner. One residence even offers a lower level mother-in-law space with a separate bathroom and entrance. The remaining 7 lots (all 40' x 130') are currently being used as a mobile home park with seven spaces leased and two more spaces available to lease. Explore the possibilities of owning two well-built and tenant occupied homes on 0.88 acres of developable land. The maximum zoning density for this acreage is 11 homes per acre. All of this income and development potential is within 7 minutes of downtown Missoula and the UM campus.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 10 |
| Total Occupancy: | 70.0 % |
| Year Built: | 1940 |
| Average MH Lot Rent: | $300 |
| Size: | 1 acre(s) |
Financial Information (Pro Forma)
| Gross Income: | $55,200 |
| Operating Expense: | $18,029 |
| Net Operating Income: | $37,170 |
| Expense Ratio: | 32.7 % |
| Debt Info: | Potential for higher net income. |
Lot Information
| Singlewide Lots: | 10 |
| Doublewide Lots: | 0 |
| 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: | 2 |
| Average Rent for Park-owned Homes: | $1,200 |