Mobile Home Park Details
- Purchase Method: Cash
- Cap Rate: 9.0% (Actual)
- Listing ID: 964640
- Posted On: Jul 1, 2018
- Updated On: Mar 18, 2019
Description
The Park consists of 8 existing pads, and is license with the State of Maine for 12 sites. There are 4 sites that could be developed immediately. The park is situated on 14+/- acres, septic tanks and a leach field for every home, town water and each home is sub-metered, and the tenants pay for the water. Private/Gravel roads with a coating of crush dust on top. The owner has not had a rent increase forever and each lot could easily support an increase of $50.00 more per month. There are ten (10 x10), and one (5 x 10) storage units, and a large heated workshop, and another large room that can store 15 vehicles such as boats, cars, campers for extra income
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Park Information
| Number of MH Lots: | 8 |
| Total Occupancy: | 100.0 % |
| Average MH Lot Rent: | $500 |
| Size: | 14 acre(s) |
Financial Information (Actual)
| Gross Income: | $56,040 |
| Operating Expense: | $20,062 |
| Net Operating Income: | $35,977 |
| Expense Ratio: | 35.8 % |
Lot Information
| Singlewide Lots: | 8 |
| Doublewide Lots: | 0 |
| Triplewide Lots: | 0 |
| Park Model Lots: | 0 |
RV Information
| Number of RV Lots: | 0 |
| Average RV Lot Rent: | $0 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Submetered |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 8 |
| Average Rent for Park-owned Homes: | $500 |