Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 8.3% (Actual)
- Listing ID: 6677276
- Posted On: Jul 25, 2024
- Updated On: Oct 25, 2024
Description
10 acres, very quiet park, 16 lots,, 10 park owned homes, 3 are vacant, 6 tenant owned. 7 park owned are rented @ $770 per month. after being remodeled. Lot rent is $250.All have vinyl siding, new metal roofs, covered decks, new kitchens and bathrooms, ceiling fans , mini split AC& heat pumps, laminate flooring, tiled showers, stainless steel appliances . We do complete background checks, almost no crime, some tenants have been here 9-15 years.. We have never advertised, in fact we don't even have a road sign. all new tenants have come from tenant referrals. the 3 vacant homes can be remodeled or replaced as they all have water, sewer, and electric connected. It is not in flood zone. Property being sold as-is , which includes a shed full of electrical tools and a 54 " zero turn lawnmower. Great park for someone willing to work one day per week. Owner retiring.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 16 |
| Total Occupancy: | 81.0 % |
| Year Built: | 19851990 |
| Average MH Lot Rent: | $770 |
| Size: | 10 acre(s) |
Financial Information (Actual)
| Gross Income: | $84,000 |
| Operating Expense: | $12,460 |
| Net Operating Income: | $71,540 |
| Expense Ratio: | 14.8 % |
Lot Information
| Singlewide Lots: | 15 |
| Doublewide Lots: | 1 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Individual Service |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 10 |
| Average Rent for Park-owned Homes: | $770 |