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Address is 40 Mcfarland Street Dexter, ME 04930

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Wil-Dot Mobile Home park

Mobile Home Park for Sale in Dexter, Maine

40 Mcfarland Street
Dexter, ME 04930

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Mobile Home Park for Sale

Number of MH Lots: 37
Size: 7.2 acre(s)
Cap Rate: 12.0%
Purchase Method: Cash
Status: Sold
Property ID: 442083
Posted on: May 08, 2014
Updated on: Apr 08, 2017

Property Description

Park consists of 37 Pads, 16 owned homes on public water and sewer. Homes are well spaced and lots approx.6,000 to 8,000 S.F.in size. Paved roads on 7.15 acres. Numerous renovations completed in the last 15 months. The Seller has a great team that helps manage the park and has a "Jack of all Trades" maintenance person. The Subject property has never looked so good, with great tenants that are proud to live in the park . There are 5 vacant pads that could be rented immediately for potential revenue, and there are 3 proposed lots that have been approved by the State that could be developed. Seller installed 2 new street lights in 2013. A new new underground water lines installed to 13 of the homes in 2014. The grounds are manicured and kept cleaned and he will include with the sale a riding lawn mower, a push lawn mower and edger that the maintenance person uses to maintain the grounds. The current maintenance person may be wiling to continue in this role for a new owner.

Park Information

Number of MH Lots:37
Total Occupancy:90.0%
Year Built:1979
Size:7.2 acre(s)

Financial Information (Actual)

Gross Income$186,240
Operating Expense$75,052
Net Operating Income$111,188
Expense Ratio 40.3%
Debt Info

Lot Information

Singlewide Lots:30
Doublewide Lots:1

Utility Information

Water:City
Water Paid By: Park
Sewer:City

Park-Owned Homes

Number of Park-owned Homes:16
Average Rent for Park-owned Homes: $675