Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Mobile Home Park Details
- Purchase Method: Cash
- Cap Rate: 10.0%
- Listing ID: 475398
- Posted On: Oct 7, 2014
- Updated On: May 7, 2015
Description
This is an 11%+ cap rate using actual 2014 financials. 73 total lots, 59 occupied. 11 acres. Two double garages, maintenance equipment included. No park owned homes. Sub meter on water and electric billed to residents. Natural gas billed directly to residents by Northwestern Energy.
Current lot rent is $210-$215 month (RV's pay $265 month), includes cable and trash. $10 rent increase scheduled for January 2015.
Interested in purchasing this mobile home park? Get pre-qualified for a loan.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 73 |
| Average MH Lot Rent: | $218 |
| Size: | 11 acre(s) |
Financial Information (Pro Forma)
| Gross Income: | $214,281 |
| Operating Expense: | $104,997 |
| Net Operating Income: | $109,284 |
| Expense Ratio: | 49.0 % |
Lot Information
| Singlewide Lots: | 73 |
RV Information
| Average RV Lot Rent: | $265 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Submetered |
| Sewer: | City |