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

Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 11.0%
  • Listing ID: 894194
  • Posted On: Apr 13, 2018
  • Updated On: Jan 14, 2019

Description

24 sites with two large pole sheds
well and septic
7 nice POH with NO deferred maintenance
MOST of our tenants have lived in our park for multiple years, there is very little turnover and ZERO receivables. Everybody pays
Water system showing on expense line was paid off this month. That increases the NOI by $3400 per year over the attached history.
Seller would consider carrying a 10% second

Amenities

  • Storage
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Park Information

Community Type: All Age
Number of MH Lots: 24
Total Occupancy: 79.0 %
Year Built: 1980
Average MH Lot Rent: $325
Size: 5 acre(s)

Financial Information (Actual)

Gross Income: $88,000
Operating Expense: $28,000
Net Operating Income: $60,000
Expense Ratio: 31.8 %

Lot Information

Singlewide Lots: 23

Utility Information

Water: Well
Water Paid By: Tenant - RUBs
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 7
Average Rent for Park-owned Homes: $550