Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 12.0%
  • Listing ID: 808069
  • Posted On: Apr 30, 2017
  • Updated On: Dec 11, 2023

Description

Two park package in very nice area of Michigan within an MSA of 50,000 plus.Great communities close enough for one manager to handle both. Lots of recent upgrades offer at a price to sell quick.

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Park Information

Community Type: All Age
Number of MH Lots: 95
Total Occupancy: 70.0 %
Average MH Lot Rent: $275

Financial Information

Gross Income: $262,000
Operating Expense: $170,000
Net Operating Income: $89,000
Expense Ratio: 64.9 %

Lot Information

Singlewide Lots: 96

RV Information

Number of RV Lots: 12

Utility Information

Water Paid By: Tenant - Submetered
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 2
Average Rent for Park-owned Homes: $750

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