Contact Information

Ryan Landis
Great Work Realty

Mobile Home Park Details

  • Price: $3,950,000
  • Purchase Method: Cash, New Loan
  • Cap Rate: 5.7%
  • Listing ID: 4393771
  • Posted On: Feb 8, 2024
  • Updated On: Feb 28, 2024

Description

Amazing opportunity to purchase a rare, full-occupancy, mobile home community in Brigham City. The property has 37 leased units, including 34 mobile homes, a single-family home, and 2 commercial/retail units. The community is owner-occupied with no rentals currently allowed. Lot rent is set at $475 per home, with a huge upside in a new owner implementing RUBS and bringing the lot rent to market rate. Current ownership has done extensive capital improvement projects and cleared the path for a Buyer to come in and cashflow from day one. Potential redevelopment of the ~3.09 acres is possible, and the property is a perfect opportunity to collect rent while working through entitlements.

Location

Located in Brigham City, Utah. ~3 miles from a Walmart.

Interested in purchasing this mobile home park? Get pre-qualified for a loan.

Park Information

Community Type: All Age
Number of MH Lots: 34
Total Occupancy: 100.0 %
Year Built: 1963
Average MH Lot Rent: $475
Size: 3 acre(s)

Financial Information (Pro Forma)

Gross Income: $298,745
Operating Expense: $74,687
Net Operating Income: $224,058
Expense Ratio: 25.0 %

Utility Information

Water: City
Water Paid By: Park
Sewer: City

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