Mobile Home Park Details
- Purchase Method: New Loan
- Cap Rate: 10.5% (Actual)
- Listing ID: 481395
- Posted On: Nov 3, 2014
- Updated On: Apr 7, 2015
Description
Pine Street Mobile Home Park is located in Newton, New Jersey. Newton is the county seat for Sussex County. Pine Street MHP has five park owned units that are well maintained with no know deferred maintenance issues. The tenants are responsible for their own utilities, including trash. The owner pays for city water and sewer (possible upside would be sub-metering). This park is pretty much self sufficient as the maintenance /manager handles any outdoor problems.
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Park Information
| Community Type: | All Age |
| Number of MH Lots: | 5 |
| Total Occupancy: | 100.0 % |
| Year Built: | 1970 |
| Average MH Lot Rent: | $765 |
| Size: | 0 acre(s) |
Financial Information (Actual)
| Gross Income: | $51 |
| Operating Expense: | $12 |
| Net Operating Income: | $39 |
| Expense Ratio: | 23.5 % |
Lot Information
| Singlewide Lots: | 4 |
| Park Model Lots: | 1 |
Utility Information
| Water: | City |
| Water Paid By: | Park |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 5 |
| Average Rent for Park-owned Homes: | $765 |