Mobile Home Park Details
- Cap Rate: 8.0%
- Listing ID: 916032
- Posted On: Apr 4, 2018
- Updated On: Nov 24, 2019
Description
The Park consists of 28 Pads with 40+/- acres, and the utilities are private well & septic, and the 3 Leach Fields were new in 2007. Paved roads throughout the park, and there are 18 Rented Lots and 2 Vacant Lots, 8 Owned Rented Mobile Homes, and Lot 3 is a duplex mobile home that are both rented. There is a Single Family Home that is also rented, and would be perfect if an owner wanted to live on site. The Seller was paying the oil for each owned homes and now 75% of the tenants are paying the oil! Seller will finance the park with $205,000 down payment for 20 years with a 5 year balloon at 5% interest. A great Opportunity!
Location
The park is 14 miles to Bangor, ME and 3.2 miles to I-95, and 2.6 miles from the University of Maine. It's in a terrific location!
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 28 |
| Total Occupancy: | 90.0 % |
| Year Built: | 1960 |
| Size: | 40 acre(s) |
Financial Information (Actual)
| Gross Income: | $157,716 |
| Operating Expense: | $66,848 |
| Net Operating Income: | $90,867 |
| Expense Ratio: | 42.4 % |
Lot Information
| Singlewide Lots: | 28 |
RV Information
| Number of RV Lots: | 0 |
Utility Information
| Water: | Well |
| Water Paid By: | Park |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 8 |
| Average Rent for Park-owned Homes: | $750 |
