Contact Information

Mobile Home Park Details

  • Price: $5,000,000
  • Cap Rate: 9.0%
  • Listing ID: 5086155
  • Posted On: Apr 3, 2024
  • Updated On: Apr 10, 2024

Description

3-star MHC on city utilities. Current owners have repaved the entire park, put in new water lines from the main to the homes, submetered with metron meters, torn down 18 old abandoned homes, and replaced with brand new 2022 Giles homes. Tenants pay for utilities. Plenty of upside left with infilling the remaining vacant lots.

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Park Information

Community Type: All Age
Number of MH Lots: 127
Total Occupancy: 68.5 %
Average MH Lot Rent: $500

Financial Information (Pro Forma)

Gross Income: $680,000
Operating Expense: $230,000
Net Operating Income: $450,000
Expense Ratio: 33.8 %

Lot Information

Singlewide Lots: 127

Utility Information

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

Park-Owned Homes

Number of Park-owned Homes: 32
Average Rent for Park-owned Homes: $800

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