Mobile Home Park Details
- Purchase Method: Cash, Seller Financing
- Listing ID: 843050
- Posted On: Aug 9, 2017
- Updated On: Nov 14, 2017
Description
38-Space Mobile Home Park, located within walking distance of Western New Mexico University, there are 31 Single wide Park owned Homes with rents ranging from $500-$700 a month and Space rents of $215 a month. the park is currently full other than 3 spaces open for rent with Tremendous upside. A potential $26,700 gross income per month.. the Park has an onsite 900sq foot cinder block office with two garage bays for park equipment / and park Material storage. The park has all City Utilities with each space having independent power meters, most of the yards are fenced with large trees and asphalt roadways with a small community park. Seller Terms Available with $400,000 dn on this Money Maker with Great upside in rents and Occupancy,
Will Owner Finance . $400k down, 5% , 10 year balloon note. $5,500 a month payment
Location
Park is within walking distance of a University and Old Down Town Silver City
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 38 |
| Total Occupancy: | 90.0 % |
| Year Built: | 1975 |
| Average MH Lot Rent: | $215 |
| Size: | 7 acre(s) |
Financial Information
| Gross Income: | $206,000 |
| Operating Expense: | $33,000 |
| Net Operating Income: | $168,000 |
| Expense Ratio: | 16.0 % |
Utility Information
| Water: | City |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 31 |
| Average Rent for Park-owned Homes: | $600 |