Mobile Home Park Details

  • Price:
  • Purchase Method: Cash, Seller Financing, Assumable Loan
  • Cap Rate: 9.0%
  • Property ID: 900246
  • Posted on Feb 22, 2018

Property Description

Partnership Split (Back On The Market)
* Serious Inquiries Only!
* No Bank Financing Needed!
* If you can't buy out the existing note (Please save us both time).

I will carry the note.
Buyout of existing note: $220,000 + $60,000 = $280,000 If you don't have this, there are no creative options.

Seller Carry Note: $169,000 (Terms 10yr. Fully Amortized/ 7% Interest) Payment $1,962.23

Purchase Price: $449,000 Not willing to negotiate (No Tire Kickers) Over 500 buyers contacted us.

Turn Key 20 Space mobile home park with upside potential for the new owner.

Site Manager: No. The park has been set up with systems. There is very little to no activity on a day to day (or month to month) basis.

Reason For Sale: Partnership Split.

Cottonwood MHP has a total of:
17 Tenant Owned Homes (Long Term Residents 10+ years)
1 Park Owned Home (Vacant) Title needs to be taken over
1 Vacant Space ready for a new home
1 Apartment (Long Term Resident)

Park is licensed for 20 spaces.

Cottonwood Mobile home park sits on 1.90 acres of commercial property located right on Broadway.

With only 3 parks currently for sale in Idaho, don’t miss out on this opportunity.

Nearly 100% of the residents have lived there for well over a decade.

Nearly 100% Tennant Owned Homes

Residents have been trained to deposit rents directly to Wells Fargo (a few blocks from the park).

Very high percentage of farm workers / Spanish speaking (Excellent at paying).

Rents have not been raised in over 7 years

Contact Tony Ferris
Tony@parkplaceedu.com

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

Park Information

Community Type: All Age
Number of MH Lots: 19
Total Occupancy: 90.0 %
Year Built: 1975
Average MH Lot Rent: $255
Size: 1.9 acre(s)

Financial Information (Actual)

Gross Income $58,000
Operating Expense $15,000
Net Operating Income $43,000
Expense Ratio 25.9 %
Debt Info

Lot Information

Singlewide Lots: 19

RV Information

Number of RV Lots: 0

Utility Information

Water: City
Water Paid By: Tenant - RUBs
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 1
Average Rent for Park-owned Homes: $450

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