Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Land: This is land for developing a mobile home park
- Cap Rate: 12.5% (Actual)
- Listing ID: 508209
- Posted On: Feb 10, 2015
- Updated On: Nov 23, 2015
Description
Tucked away West side of Loveland, yet very convenient location! Plenty of well groomed trees. With a 1.7% vacancy rate in Northern Colorado this make this VERY EASY rentability! Here is a chance to own what most investors consider the best ROI!! RV park developed in the 60's & evolved in stages over several years into a trailer park Well maintained, great management company that would be willing/like to stay on. 67 renters, 1 stick built (nice shape, built in 1950), 19 lot-only, 46 park owned trailers. Each trailer IS metered and they pay their own electric & gas. The maintenance person reads the WATER meter every month and then that is split and paid by each tenant. There is also a $16.41/per tenant for a community fee that covers, trash & sewer. (Average MH Lot is average of all noted above. Lot only is currently $350/month) Located in the COUNTY, so NO City Inspections!
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 67 |
| Total Occupancy: | 100.0 % |
| Year Built: | 1960 |
| Average MH Lot Rent: | $641 |
| Size: | 6 acre(s) |
Financial Information (Actual)
| Gross Income: | $488 |
| Operating Expense: | $125 |
| Net Operating Income: | $363 |
| Expense Ratio: | 25.6 % |
Lot Information
| Singlewide Lots: | 65 |
| Doublewide Lots: | 1 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Submetered |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 47 |
| Average Rent for Park-owned Homes: | $750 |