Contact Information

Mobile Home Park Details

  • Price: $699,000
  • Cap Rate: 11.9%
  • Listing ID: 6200598
  • Posted On: Jun 11, 2024
  • Updated On: Jun 11, 2024

Description

This manufactured housing portfolio features strong rental demand, a solid track record of occupancy and historically stable cash flow.

The 1.95-acre site currently accommodates a total of 13 manufactured homes (1 double wide home; 12 single wide homes) - all PARK OWNED with titles to most. The occupancy is at 100% with an average monthly rent of $640.00 (inclusive of lot and mobile home rent).

The property is equipped with public water, private and individual sewer systems, central HVAC (ALL NEW units under 2 yrs old, with 10 yr warranties by Heil & Goodman), separately metered electricity, and dusk to dawn lights.

Location

Located in Henry County within the Martinsville MSA.

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Park Information

Community Type: All Age
Number of MH Lots: 13
Total Occupancy: 100.0 %
Size: 2 acre(s)

Financial Information (Actual)

Gross Income: $99,900
Operating Expense: $16,962
Net Operating Income: $82,963
Expense Ratio: 17.0 %

Lot Information

Singlewide Lots: 12
Doublewide Lots: 1

Utility Information

Water: City
Water Paid By: Park

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