Mobile Home Park Details

  • Price:
  • Purchase Method: Cash
  • Cap Rate: 11.0%
  • Property ID: 978519
  • Posted on Aug 14, 2018

Property Description

Knapp MHP is licensed for 29 Pads, and only 1 pad has never had a home on it, and the water and sewer is at the site. There are 13 rented sites, with Public Water and Public Sewer, 1 vacant home that could be renovated, and rented. The homes are individually metered, and the tenants pay for the water and sewer. There is a vacant lot abutting the pond that would make a beautiful lot, if the owner wanted to live in the park. There are 40 acres and the park could easily be expanded. Beautiful ATV Trails surrounds the property. There is a possible 1st mortgage that could be assumed of around $160,000

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Park Information

Community Type: All Age
Number of MH Lots: 29
Average MH Lot Rent: $230

Financial Information (Actual)

Gross Income $35,880
Operating Expense $6,762
Net Operating Income $29,117
Expense Ratio 18.8 %
Debt Info

Lot Information

Singlewide Lots: 28
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: City

Park-Owned Homes

Number of Park-owned Homes: 0

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