Mobile Home Park Details
- Purchase Method: Cash, Seller Financing, New Loan
- Cap Rate: 11.0%
- Listing ID: 510673
- Posted On: Feb 24, 2015
- Updated On: Aug 25, 2015
Description
48 Mobile Home spaces, 41 occupied
11% cap rate on rental income
Fully submetered for electricity and water, trash and rental tax pass-through income as well
Pet tax ancillary income and home sales income
All singlewide spaces except one doublewide
Limited competitions in desert setting but close to all amenities
Seller Financing
Two assumable notes
85% occupancy
Hiking trails and ATV/horseback riding n
Location
Beautiful desert park offers investors a low-maintenance park with great returns. Park currently 85% occupied and has immediate upside of filling up additional lots or renting to winter visitors during busy months. Seller financing available with terms, please contact broker. Tour of park available so please contact broker or be discreet if you drive through on your own.
Amenities
- Laundromat
- Club House
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 48 |
| Total Occupancy: | 85.0 % |
| Average MH Lot Rent: | $295 |
| Size: | 5 acre(s) |
Financial Information (Actual)
| Gross Income: | $215,174 |
| Operating Expense: | $84,940 |
| Net Operating Income: | $130,277 |
| Expense Ratio: | 39.5 % |
| Debt Info: | Two Assumable Notes |
Lot Information
| Singlewide Lots: | 47 |
| Doublewide Lots: | 1 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Submetered |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 4 |
| Average Rent for Park-owned Homes: | $500 |