Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 11.0%
  • Property ID: 826991
  • Posted On: Jun 27, 2017
  • Updated On: Feb 17, 2020

Property Description

Amazing investment opportunity to own 17 pad mobile home park in Imperial; yielding 90k a year in NET Income & 14% Cap rate! The 16 park-owned well-kept homes feature 2,3, and 4 bedroom units and is situated on over 3 acres! Easily accesible off Hwy 21 and located in the highly rated Fox School District!There are 16 single wide lots and 1 double wide! There is a 30X40 pole barn with 200 amp service that could easily yield an additional $1300 a month in storage income. Netting you over 100k a year. There is ample potential to develop additional pads on the property as well. This park is served by a public sewer district with recently replaced laterals. Majority of units with 200 amp underground electric service, and full concrete pads underneath. Park has a private water system with new pump, tanks, and wellhouse. Owner will consider leaving maintenance equipment and items with sale! Call today to tour this amazing property and provide your family with a six figure income stream!

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Park Information

Community Type: All Age
Number of MH Lots: 17
Total Occupancy: 80.0 %
Year Built: 0
Average MH Lot Rent: $580
Size: 4 acre(s)

Financial Information (Pro Forma)

Gross Income $107,700
Operating Expense $18,504
Net Operating Income $89,196
Expense Ratio 17.2 %
Debt Info n/a

Lot Information

Singlewide Lots: 16
Doublewide Lots: 1

RV Information

Number of RV Lots: 0

Utility Information

Water: Well
Water Paid By: Park
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 16
Average Rent for Park-owned Homes: $560

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