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Mobile Home Park Details
- Purchase Method: Cash
- Cap Rate: 8.0% (Actual)
- Listing ID: 69693
- Posted On: May 19, 2011
- Updated On: Sep 19, 2011
Description
GRASSY CREEK IS A SPACIOUS 63 ACRE FACILITY WITH 223 SPACES. PRESENT RENT IS $ 325.00/MONTH. CITY WATER AND SEWER IS AVAILABLE AND IS BILLED THRU THE PARK.
THE SURROUNDING AREA IS DEVELOPING RAPIDLY EITH A NEW REGIONAL HOSPITAL WITHIN 1 MILE.
THE ASKING PRICE IS FROM AN APPRAISAL DATED APRIL 1, 2011.
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Park Information
| Community Type: | All Age |
| Number of MH Lots: | 223 |
| Total Occupancy: | 96.0 % |
| Year Built: | 1990 |
| Average MH Lot Rent: | $325 |
| Size: | 63 acre(s) |
Financial Information (Actual)
| Gross Income: | $940,000 |
| Operating Expense: | $356,093 |
| Net Operating Income: | $584,852 |
| Expense Ratio: | 37.9 % |
Lot Information
| Singlewide Lots: | 38 |
| Doublewide Lots: | 185 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Submetered |
| Sewer: | City |