Mobile Home Park Details

  • Purchase Method: Cash
  • Cap Rate: 10.0%
  • Property ID: 475398
  • Posted On: Oct 7, 2014
  • Updated On: May 7, 2015

Property 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.

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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 %
Debt Info

Lot Information

Singlewide Lots: 73

RV Information

Average RV Lot Rent: $265

Utility Information

Water: City
Water Paid By: Tenant - Submetered
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 0

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