Contact Information

Property Description

Sale is for 2 parks owned by same seller. MH park is on north side of Lake Reedy and RV park on south side of Lk Reedy.Price Reduced from $900k to $769K for Fast Sale/Wants close 30days(9.6%CapRate! Clean/Little to No Deferred Maintenance Adult Parks!(2 Properties)36 total spaces/unit Lakefront MH/RV/Lk Hm Park:15 MH spaces lot rents 270/m & 1 CBS Home rents for $650/m,19 RV spaces at $190/m, Doublewide Park Owned trailer rents for $600/m. Upside: Rents are still low even after small increase, lot maintenance/mowing can be passed through /giving upside potential. Development Potential of platting/zoning into individual lake lots for even more value!

Mobile Home Park Details

  • Price: $769,900
  • Purchase Method: Cash, Assumable Loan
  • Cap Rate: 9.6%
  • Property ID: 512517
  • Posted on Mar 9, 2015

Amenities

  • Club House
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Park Information

Community Type: 55 And Over
Number of MH Lots: 15
Total Occupancy: 100.0 %
Average MH Lot Rent: $270
Size: 8.0 acre(s)

Financial Information (Actual)

Gross Income $107,621
Operating Expense $33,403
Net Operating Income $74,115
Expense Ratio 31.0 %
Debt Info

Lot Information

Singlewide Lots: 15
Doublewide Lots: 1

RV Information

Number of RV Lots: 19
Average RV Lot Rent: $190

Utility Information

Water: Well
Water Paid By: Park
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 1
Average Rent for Park-owned Homes: $600

Map

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