Mobile Home Park Details

  • Purchase Method: New Loan
  • Cap Rate: 10.5%
  • Property ID: 481395
  • Posted On: Nov 3, 2014
  • Updated On: Apr 7, 2015

Property 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: 0.3 acre(s)

Financial Information (Actual)

Gross Income $51
Operating Expense $12
Net Operating Income $39
Expense Ratio 23.5 %
Debt Info

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