Mobile Home Park Details
- Cap Rate: 16.0%
- Listing ID: 719457
- Posted On: Nov 6, 2016
- Updated On: Feb 5, 2017
Description
Immediate cash flow investment property for sale from motivated seller. 5-lot mobile home park on 2.6 acres of land in the Southwest region of Jacksonville, NC. Property currently yields 16% CAP rate with potential to grow. Currently 100% occupied with year-long leases. Prime location ensures constant stream of renters. Close to Camp Lejeune, NC, many schools and near Albert Ellis Airport - area is sought after by renters and developers. Estimates of the growth of Jacksonville vary from 10,000 - 15,000 additional people in the next 3-5 years. Zoned as a commercial property, the land offers many possibilities beyond its current income generating status.
Rent for Lot 1: $470
Lot 2: $470
Lot 3: $490
Lot 4: $490
Lot 5: $440
Garage: $100
Total: $2,460
Operating Expense: $1,000
Profit per month: $1,460
Profit per year: $17,520
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 5 |
| Total Occupancy: | 100.0 % |
| Year Built: | 1975 |
| Average MH Lot Rent: | $470 |
| Size: | 3 acre(s) |
Financial Information
| Gross Income: | $2,450 |
| Operating Expense: | $1,000 |
| Net Operating Income: | $1,450 |
| Expense Ratio: | 40.8 % |
Lot Information
| Singlewide Lots: | 2 |
| Doublewide Lots: | 3 |
RV Information
| Number of RV Lots: | 0 |
| Average RV Lot Rent: | $0 |
Utility Information
| Water: | City |
| Water Paid By: | Park |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 5 |
| Average Rent for Park-owned Homes: | $470 |