Mobile Home Park Details
- Purchase Method: Cash
- Cap Rate: 10.0% (Actual)
- Listing ID: 456491
- Posted On: Jun 23, 2014
- Updated On: Nov 5, 2015
Description
The park consists of 45 existing pads, and is licensee with the State of Maine for 87 sites. There are 33 +/- acres of land for future development, and a gravel pit. It consists of public water and public sewer, mostly paved roads and some gravel. The park has 9 owned mobile homes that are included in the sale, and the current revenue is $124,800, and the expenses are $53,216.06. There are 9 vacant pads that could be rented immediately for potential future revenue of $24,300. Also could be bought with Stoney Brook Mobile Home Park that is owned by the same seller and both parks are located close to each other.
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Park Information
| Community Type: | All Age |
| Number of MH Lots: | 45 |
| Total Occupancy: | 80.0 % |
| Year Built: | 1969 |
| Size: | 33 acre(s) |
Financial Information (Actual)
| Gross Income: | $124,800 |
| Operating Expense: | $53,216 |
| Net Operating Income: | $71,583 |
| Expense Ratio: | 42.6 % |
Lot Information
| Singlewide Lots: | 45 |
| 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: | City |
| Water Paid By: | Park |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 9 |
| Average Rent for Park-owned Homes: | $500 |