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Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 9.0% (Pro Forma)
- Listing ID: 484834
- Posted On: Nov 18, 2014
- Updated On: Feb 2, 2015
Description
FOR SALE BY OWNER: 83 pad all ages park just east of Houston. Currently 2 vacant pads, with historically high occupancy. No park owned homes. Paved streets. City water and city sewer. Tenants reimburse for trash and utils. This well maintained family park is a cash cow! The present owners are selling due to advanced age and health problems. NOTE: I am one of the owners of this park, and I have a valid real estate license. I am acting as a principal and not as a broker.
Interested in purchasing this mobile home park? Get pre-qualified for a loan.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 83 |
| Total Occupancy: | 96.0 % |
| Year Built: | 1970 |
| Average MH Lot Rent: | $235 |
| Size: | 6 acre(s) |
Financial Information (Pro Forma)
| Gross Income: | $261,323 |
| Operating Expense: | $113,263 |
| Net Operating Income: | $148,060 |
| Expense Ratio: | 43.3 % |
| Debt Info: | New loan required |
Lot Information
| Singlewide Lots: | 83 |
RV Information
| Number of RV Lots: | 0 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - RUBs |
| Sewer: | City |
