Contact Information

Mobile Home Park Details

  • Price: $405,000
  • Purchase Method: Cash, Seller Financing, New Loan
  • Cap Rate: 9.1%
  • Property ID: 789061
  • Posted On: Mar 1, 2017
  • Updated On: May 31, 2019

Property 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.

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Park Information

Community Type: All Age
Number of MH Lots: 16
Total Occupancy: 81.0 %
Average MH Lot Rent: $395
Size: 2.3 acre(s)

Financial Information (Actual)

Gross Income $61,600
Operating Expense $25,200
Net Operating Income $36,300
Expense Ratio 40.9 %
Debt Info

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

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