Mobile Home Park Details
- Cap Rate: 8.0% (Actual)
- Listing ID: 6734268
- Posted On: Sep 23, 2024
- Updated On: Apr 28, 2025
Description
This Deal Includes a 14 Unit Park With Current Lot Rents Well Below Market Levels and a Pro Forma Cap Rate of 12% + at Near Market Rent Rates. Tenant Maintained Mobile Homes and City Maintained Infrastructure Provide Operational Advantages Over Other Parks.
PROPERTY HIGHLIGHTS
Upside in Rent Increases Near Market Levels Produce a 12% + Cap Rate
13 Lots Occupied By All TOH (Tenant Owned Homes)
1 - 3BR / 1 BA Single Family Homes
Low Maintenance Property
City Maintained Street
City Water and Sewer Direct-Billed
Residents Clean Their Own Space
All Tenant Owned Mobile Homes - Homes and Lots Maintained at Tenants Cost
Convenient in Town Troy Location With Shopping and Distillery Nearby
Contact Lead Broker: William Capone
Email: wcapone@SIGnnn.com
Phone Number: 954-723-8342
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 14 |
| Total Occupancy: | 93.0 % |
| Size: | 4 acre(s) |
Financial Information (Actual)
| Gross Income: | $40,020 |
| Operating Expense: | $8,100 |
| Net Operating Income: | $31,920 |
| Expense Ratio: | 20.2 % |
Lot Information
| Singlewide Lots: | 13 |
Utility Information
| Water: | City |
| Sewer: | City |