Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 18.0% (Actual)
- Listing ID: 658526
- Posted On: Apr 23, 2016
- Updated On: May 18, 2016
Description
Currently there are 14 mobile homes. 13 are owned by the park and average rent is $660. 1 lot is rent $325. 2 more spaces are approved by the city so total can have 16 homes. Seperate meter for electricity. City water on septic tank. Last year spent about $50,000 to install a brand new septic tank and 2 pumps, fixed up trailers and replaced 15 AC, 5 stoves, 3 refrigerators, sealed all roofs with the materials that are good for 10 years. Always 100% occupied with most of long time tenants. No owner finance is available.
Location
Located in a quiet living area with open spaces. 3 miles away from shopping malls with Wal-Mart, bank, UPS etc. 3 miles away from Deleon Spring State Park.
Amenities
- Storage
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Park Information
| Community Type: | All Age |
| Number of MH Lots: | 14 |
| Total Occupancy: | 100.0 % |
| Year Built: | 1972 |
| Average MH Lot Rent: | $635 |
| Size: | 4 acre(s) |
Financial Information (Actual)
| Gross Income: | $106,800 |
| Operating Expense: | $42,324 |
| Net Operating Income: | $64,476 |
| Expense Ratio: | 39.6 % |
Lot Information
| Singlewide Lots: | 10 |
| Doublewide Lots: | 3 |
| Triplewide Lots: | 1 |
Utility Information
| Water: | City |
| Water Paid By: | Park |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 13 |
| Average Rent for Park-owned Homes: | $660 |