Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Land: This is land for developing a mobile home park
- Cap Rate: 10.0% (Actual)
- Listing ID: 783604
- Posted On: Feb 8, 2017
- Updated On: Feb 19, 2017
Description
The park has 53 spaces with 29 park owned mobile homes. The mobile homes are 2006 and 2011 models. There are 3BR 2BA, 3BR 1BA, and 2BA 1BA homes 18 homes owned by tenants, 6 vacant Lot. The park build in 1990 and is well maintained. The street are asphalt and each space has 2 to 3 parking spaces. The park grosses $22546 monthly .The actual occupancy is consistently around ( 91%) The monthly expences consist of water bill, property tax, management, trash services, electric bill and repair and maintenance. The park nets $14568 per month on average and at 10% cap the selling price is $1,800,000. Average MH mobile rent $498- $835
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Park Information
| Community Type: | All Age |
| Number of MH Lots: | 53 |
| Total Occupancy: | 92.0 % |
| Year Built: | 1990 |
| Average MH Lot Rent: | $362 |
| Size: | 7 acre(s) |
Financial Information (Actual)
| Gross Income: | $22 |
| Operating Expense: | $6 |
| Net Operating Income: | $15 |
| Expense Ratio: | 27.3 % |
Lot Information
| Singlewide Lots: | 45 |
| Doublewide Lots: | 2 |
| Park Model Lots: | 6 |
Utility Information
| Water: | City |
| Water Paid By: | Park |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 29 |
| Average Rent for Park-owned Homes: | $612 |
