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Ample commercial and overflow parking
Ample commercial and overflow parking
Ample commercial and overflow parking

Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Land: This is land for developing a mobile home park
  • Cap Rate: 8.5% (Pro Forma)
  • Listing ID: 520333
  • Posted On: May 5, 2015
  • Updated On: May 29, 2016

Description

Currently a 30 Pad MHP with 14 lease able Pads and 14 Park owned units and a +-2,000 Sf commercial building on the front parcel being used as a cocktail lounge. Property is currently 60% occupied and with a capital infusion and good property management can be a cash cow.

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Park Information

Community Type: All Age
Number of MH Lots: 30
Total Occupancy: 60.0 %
Year Built: 1980
Average MH Lot Rent: $410
Size: 5 acre(s)

Financial Information (Pro Forma)

Gross Income: $99,000
Operating Expense: $24,000
Net Operating Income: $75,000
Expense Ratio: 24.2 %

Utility Information

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

Park-Owned Homes

Number of Park-owned Homes: 14
Average Rent for Park-owned Homes: $500

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