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Photo of Mobile Home Park
Photo of Mobile Home Park
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Mobile Home Park Details

  • Purchase Method: Cash, Assumable Loan
  • Cap Rate: 11.6%
  • Listing ID: 880674
  • Posted On: Nov 21, 2017
  • Updated On: Jan 30, 2018

Description

Partners very anxious to sell. Only $20K down!! Take advantage of this 8 unit mobile home park with the opportunity to leverage your investment with little down and existing $200K private mortgage already in place. The park consists of 8 mobile homes, 5 are currently leased, 1 needs some minor TLC and 2 need full rehab. Great upside income potential to expand park to 24 mobile homes. Rent lots or set up new or used MH. City water and septic. Tenants pay their own electric.

The Park is conveniently located 2 miles from Interstate 530 is only 15 minutes from Little Rock which is centrally located in Arkansas. Little Rock serves as not only the capital, but also as the primary economic and cultural hub for the state.

Location

On quiet street 2 miles from Interstate 530 is only 15 minutes from Little Rock.

Amenities

  • Storage
Interested in purchasing this mobile home park? Get pre-qualified for a loan.

Park Information

Community Type: All Age
Number of MH Lots: 8
Total Occupancy: 75.0 %
Year Built: 1990
Average MH Lot Rent: $550
Size: 3 acre(s)

Financial Information (Pro Forma)

Gross Income: $57,600
Operating Expense: $23,040
Net Operating Income: $34,560
Expense Ratio: 40.0 %
Debt Info: $200,000 Assumable Mortgage

Lot Information

Singlewide Lots: 8

Utility Information

Water: City
Water Paid By: Park
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 8
Average Rent for Park-owned Homes: $600

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