Mobile Home Park Details
- Purchase Method: Cash
- Cap Rate: 8.2% (Pro Forma)
- Listing ID: 826387
- Posted On: Jun 26, 2017
- Updated On: Dec 14, 2017
Description
Crestview Estates is a well maintained and established mobile home park (MHP) in the southwest Ohio community of Sardinia. 33.45 acres total.
The property has a strong operating history, boasts low overhead & strong cash flow, and is ideally positioned for future expansion and growth. Approved for 88 lots, the property consists of 27 improved lots (27 homes | 13 park-owned & 14 tenant-owned). Amenities include wide asphalt streets, rolled concrete curbing, concrete parking pads (2 spaces per lot), level topography, adequate on-site detention, and a heavily wooded perimeter provides a park-like setting.
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Park Information
| Community Type: | All Age |
| Number of MH Lots: | 88 |
| Total Occupancy: | 96.3 % |
| Size: | 34 acre(s) |
Financial Information (Pro Forma)
| Gross Income: | $108,240 |
| Operating Expense: | $34,355 |
| Net Operating Income: | $73,885 |
| Expense Ratio: | 31.7 % |
Lot Information
| Singlewide Lots: | 88 |
RV Information
| Number of RV Lots: | 27 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Submetered |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 13 |
| Average Rent for Park-owned Homes: | $550 |