Contact Information

Property Description

Fawn Estates is an excellent opportunity to purchase a cash
flowing mobile home park with upside. The property has 20
mobile home spaces with 15 occupied,1 vacant home available for
remodel, 4 vacant spots, 1 stick built home and includes 2
enclosed garages one for equipment & 1 for rent. Two of the 15
occupied homes are park owned homes being rented out.
The property is on city water, which is paid for by the park. This
could be sub-metered for extra income potential. The sewer
system is septic.The property has 18 singlewide lots and 2 doublewide lots.

Mobile Home Park Details

  • Price: $420,000
  • Purchase Method: Cash, New Loan
  • Cap Rate: 10.1%
  • Property ID: 939360
  • Posted on Jun 8, 2018

Amenities

  • Storage
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Park Information

Community Type: All Age
Number of MH Lots: 20
Total Occupancy: 81.8 %
Year Built: 1970
Average MH Lot Rent: $255
Size: 12.5 acre(s)

Financial Information (Actual)

Gross Income $58,440
Operating Expense $16,040
Net Operating Income $42,400
Expense Ratio 27.4 %
Debt Info

Lot Information

Singlewide Lots: 18
Doublewide Lots: 2

Utility Information

Water: City
Water Paid By: Park
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 2
Average Rent for Park-owned Homes: $650

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