Mobile Home Park Details
- Purchase Method: Cash, Seller Financing
- Cap Rate: 9.3%
- Listing ID: 828939
- Posted On: Jul 4, 2017
- Updated On: Oct 3, 2017
Description
Clean, well maintained, all age community mobile home park in city limits. 90 spaces of which 53 sites are occupied. Rent increase July 1 results in Cap rate of 9.3% based on sale price of $865k. 33 tenant owned homes. Gas/Electric direct billed by city to all tenants. Water/Sewer provided by city. Tenant Owned homes are in process of switching to direct billing for water/sewer by city. Seller financing possible. Family owned. Lot rents are still below market. PO homes had several upgrades in 2016 - spring 2017. 3 P.O. homes are offered for sale with lease purchase. (go with the sale of park.) Financials are on attachment. On site management will stay to train new management if desired for a limited time. Contact Manager for questions.
818.351.6746.
Location
3 hrs from Denver, 2 hours from Rapid City.
Largest employer in the town is BNSF RR.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 90 |
| Total Occupancy: | 59.0 % |
| Year Built: | 1979 |
| Size: | 23 acre(s) |
Financial Information (Actual)
| Gross Income: | $166 |
| Operating Expense: | $81 |
| Net Operating Income: | $85 |
| Expense Ratio: | 48.8 % |
Lot Information
| Singlewide Lots: | 79 |
| Doublewide Lots: | 11 |
RV Information
| Number of RV Lots: | 2 |
Utility Information
| Water: | City |
| Water Paid By: | Park |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 20 |
| Average Rent for Park-owned Homes: | $595 |