IRENE WAY MOBILE HOME PARK
IRENE WAY MOBILE HOME PARK
IRENE WAY MOBILE HOME PARK
Mobile Home Park Details
- Purchase Method: New Loan
- Cap Rate: 12.0%
- Listing ID: 865935
- Posted On: Oct 6, 2017
- Updated On: Sep 13, 2018
Description
HOUSE W/ MOBILE HOME PARK FOR SALE
4.75 Acres in Northwest Georgia with 3 bedroom 2 bath home , a double wide with 3 bedrooms and 2 baths..... then 8 single wide mobile homes all recently renovated and all rented. Tenants pay their own power and also pay $30 per month for water. For more information call 706-264-8867... please leave message and we will return call within one business day.
SALES PRICE $375,000
CAP RATE 12%
ANNUAL RENTAL INCOME : $76,908
EXPENSES
Lost rents ( 10%) $7,690.80
PROPERTY TAXES $1,291
INSURANCE (ESTIMATE) $4,000
GARBAGE SERVICE $1,200
MAINTENANCE $10,250
LAWN SERVICE $1,500
UTILITIES (power ) $1,200
UTILITIES (water ) $3,600
TOTAL ANNUAL EXPENSES $23,041
ANNUAL NET INCOME $46,176
Monthly Net Income $3,848.03
Interested in purchasing this mobile home park? Get pre-qualified for a loan.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 10 |
| Total Occupancy: | 100.0 % |
| Year Built: | 1980 |
| Average MH Lot Rent: | $641 |
| Size: | 5 acre(s) |
Financial Information (Pro Forma)
| Gross Income: | $76,908 |
| Operating Expense: | $30,732 |
| Net Operating Income: | $46,176 |
| Expense Ratio: | 40.0 % |
Lot Information
| Singlewide Lots: | 8 |
| Doublewide Lots: | 2 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Individual Service |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 10 |
| Average Rent for Park-owned Homes: | $641 |
