Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 14.0%
  • Property ID: 891860
  • Posted On: Jan 5, 2018
  • Updated On: Jun 3, 2020

Property Description

Cute and well maintained mobile home park located in a rural but close to town setting. Nearby a stream, within a 10 minute drive to an industrial park with many job opportunities. This 36 licensed lot park has 26 currently filled lots. Park includes 8 owned mobile homes and 1 owned apartment unit (stand alone building). Tenants are all long term. Opportunity to grow the income by bringing in more mobile homes.

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Park Information

Community Type: All Age
Number of MH Lots: 36
Total Occupancy: 72.0 %
Year Built: 1960
Average MH Lot Rent: $175
Size: 9 acre(s)

Financial Information (Pro Forma)

Gross Income $98,340
Operating Expense $54,404
Net Operating Income $43,936
Expense Ratio 55.3 %
Debt Info

Lot Information

Singlewide Lots: 36

Utility Information

Water: Well
Water Paid By: Park
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 10
Average Rent for Park-owned Homes: $557