Mobile Home Park Details
- Purchase Method: Cash
- Cap Rate: 0.0% (Actual)
- Listing ID: 70150
- Posted On: May 30, 2011
- Updated On: Nov 30, 2011
Description
The park is located on a city street in Lincoln, Arkansas where the utilities are individually metered and includes natural gas. Eleven lots have 200 amp service with 10 of them updated within the last 5 years. The remaining lots have 100 amp service. The park has 26 spaces and is unique in that the street and utilities are provided by the city or utility companies. The park owner does not have any utility responsibility except from the mobile home to the street or meter box. Tenants pay their own utilities. Nonpaying tenants have been removed from the park and now needs to be marketed to replace the removed mobile homes. Great potential for big profits.
Location
The park is located on Valerie Place in Lincoln, Arkansas and consists of 11 city lots. It is located within 1/2 mile of the new High School currently under construction and about 20 miles west of Fayetteville, Interstate 540, and the University of Arkansas.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 26 |
| Total Occupancy: | 27.0 % |
| Year Built: | 1980 |
| Average MH Lot Rent: | $130 |
| Size: | 4 acre(s) |
Financial Information (Actual)
| Gross Income: | $14,570 |
| Operating Expense: | $2,500 |
| Net Operating Income: | $12,070 |
| Expense Ratio: | 17.2 % |
Lot Information
| Singlewide Lots: | 26 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Individual Service |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 3 |
| Average Rent for Park-owned Homes: | $400 |