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Mobile Home Park Details

  • Price: $750,000
  • Purchase Method: Cash, New Loan
  • Property ID: 922423
  • Posted on Apr 26, 2018

Property Description

Lee & Associates and The MHP Broker are pleased to offer the sale of this well-located, value-add MHC with plenty of upside in a strong market. The park has 73 lots with 55 lot rent only tenants each paying an average rent of $190 ($150-$220). There are 13 vacant lots. Park also has two nice single-family homes (SFH) and a small commercial office building rented at $300 per month. The SFH rents for $600 and the SFH is used as an office. Current occupancy is roughly 83%.

This MHC has city water that is not sub-metered and is included in rents. The park uses a shared septic system. Tenants are directly billed for the curbside trash service from the provider. There are two park owned homes and two SFH that are in good condition. The tenant owned units are in good shape with majority of them being 1980s and 1990s models. The privately maintained roads are paved and in average condition as our offering price suggests. The park is NOT in a flood zone.

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Park Information

Number of MH Lots: 73
Total Occupancy: 83.0 %
Average MH Lot Rent: $190
Size: 83.0 acre(s)

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