Photo of Manufactured Home Community
Photo of Park entrance
Patriots Park homes
Patriots Park homes
Patriots Park homes
Location of Mobile Home Park
Navy Federal Credit Unions new Corp offices
Construction and traffic near park
Mobile Home Park Details
- Purchase Method: Cash, Seller Financing, New Loan
- Cap Rate: 9.1% (Actual)
- Listing ID: 789061
- Posted On: Mar 1, 2017
- Updated On: Mar 6, 2020
Description
MH Park
20 Lots - 16 developed - 4 to be developed
41% expense ratio (including management)
9% CAP
Location
Rural setting, well established, mix of park and tenant-owned homes.
2 Rent to own units - 6 park owned (1 needs full setup and rehab) - 5 tenant owned - 1 RV lot rental - 2 vacant lots.
Major development on the road leading to the park. 4 miles from Navy Federal Credit Unions new corp. center (a major employer fueling job growth and desirability of the area for housing).
Management can remain in place.
Interested in purchasing this mobile home park? Get pre-qualified for a loan.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 16 |
| Total Occupancy: | 81.0 % |
| Average MH Lot Rent: | $395 |
| Size: | 2 acre(s) |
Financial Information (Actual)
| Gross Income: | $61,600 |
| Operating Expense: | $25,200 |
| Net Operating Income: | $36,300 |
| Expense Ratio: | 40.9 % |
Lot Information
| Singlewide Lots: | 16 |
| Doublewide Lots: | 0 |
| Triplewide Lots: | 0 |
| Park Model Lots: | 1 |
Utility Information
| Water: | City |
| Water Paid By: | Park |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 16 |
| Average Rent for Park-owned Homes: | $484 |