Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Listing ID: 407931
- Posted On: Oct 8, 2013
- Updated On: Oct 13, 2014
Description
100% occupancy maintained for over 8 years
52 acres of land in a rural setting with large individual lots
58 mobile homes - 52 owner and 6 lot rents
3 additional home lots available
Borders I 95 North and is just 1 mile from Hwy 301
Zoned as a sub-division, NOT a trailer park
County water , underground utilities - power, telephone, cable, and internet Individual septic tanks
Metal roofs are being systematically resealed
All shingle roofs replaced in 2013 with 40 year architectural shingles
Paved subdivision entrance in 2011 and re-gravel the main roads annually
New 32x32 block storage building built in 2010
All lot rents are long term tenants
25% of current tenants have rented for over 4 years
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 61 |
| Total Occupancy: | 100.0 % |
| Year Built: | 1996 |
| Average MH Lot Rent: | $515 |
| Size: | 52 acre(s) |
Financial Information (Actual)
| Gross Income: | $346,000 |
| Operating Expense: | $90,000 |
| Net Operating Income: | $256,000 |
| Expense Ratio: | 26.0 % |
Lot Information
| Singlewide Lots: | 40 |
| Doublewide Lots: | 12 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Individual Service |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 52 |
| Average Rent for Park-owned Homes: | $515 |
