Mobile Home Park Details
- Purchase Method: Cash
- Cap Rate: 13.0%
- Listing ID: 576963
- Posted On: Nov 3, 2015
- Updated On: Feb 3, 2016
Description
This is a clean, well-established park with a low turnover of tenants. All units are owned by the park and are rented on a monthly basis. The park units are 14' wide and one 16 wide.
A 20' x 50' building on a concrete slab is used for maintenance and storage. Water comes from a deep, licensed private well with a 1000 gallon water tank. There is an individual septic tank for each unit. The park is on 2.75 acres. .
The owner's residence is on a flag shaped property of 12.44 acres behind the park. It is a large double wide currently occupied by the owner. (The double wide is calculated into the Pro Forma figures.) Nearby is a 13' x 20' out-building with an attached roof for RV parking, a deer fenced garden area, and a fishing pond.
Location
The property is located on a paved road. The driveways inside the park are lime rock.
The park is in a clean, quiet, rural area. Shopping, schools, hospitals, and services are only 7 miles away in Lake City.
All units are park owned and they are very well maintained. The property stays rented year round.
Amenities
- Storage
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 13 |
| Total Occupancy: | 98.0 % |
| Average MH Lot Rent: | $575 |
| Size: | 15 acre(s) |
Financial Information (Pro Forma)
| Gross Income: | $80 |
| Operating Expense: | $25 |
| Net Operating Income: | $55 |
| Expense Ratio: | 31.2 % |
Lot Information
| Singlewide Lots: | 12 |
| Doublewide Lots: | 1 |
Utility Information
| Water: | Well |
| Water Paid By: | Park |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 13 |
| Average Rent for Park-owned Homes: | $575 |
