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, Assumable Loan
  • Cap Rate: 7.7%
  • Listing ID: 913751
  • Posted On: Mar 27, 2018
  • Updated On: Apr 6, 2021

Description

71 lot Mobile Home Park with a 3 unit apartment.

FOR SALE BY OWNER

-95% occupied @ $385 average lot rental
-11 park owned homes, hold notes on a hand full of homes.
-$575 for apartment rental.
-Well/Sewage Treatment Plant Tenants pay $30 a month for water
-Well maintained paved roads.
-Major overhaul was done to sewage treatment plant in 2013, meets and exceeds all EPA standards
-Onsite park manager that is willing to stay on for new owners
-Park originally had an FHA loan.
-Park has an assumable Bank of America loan @5.39%
-The value of Notes held is $104,939
-The value of Rental Homes is $79,950

-The value of Notes held and the value of Rental Homes is included in the sale price of the Mobile Home Park; Totals $184,889
$3,250,000
-No Lot rent increase since 1/1/14
-Did add $30 for Water/Sewer/Garbage/Recycling 6/1/2015. The Water/Sewer/Garbage/Recycling fee has been increased to $40 (effective 5/1/18) and this adds $8,280 to the Annualized Income and is not included on NOI. This will increase the value of the Park by $110,000

For more information please contact Dale.

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

Park Information

Community Type: All Age
Number of MH Lots: 71
Total Occupancy: 95.0 %
Average MH Lot Rent: $385

Financial Information

Gross Income: $378,841
Operating Expense: $112,511
Net Operating Income: $266,330
Expense Ratio: 29.7 %

Utility Information

Water: Well
Sewer: Treatment Plant

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