Contact Information

Mobile Home Park Details

  • Price: $645,000
  • Purchase Method: Cash, Seller Financing
  • Cap Rate: 12.0%
  • Property ID: 983314
  • Posted on Aug 25, 2018

Property Description

Thanks to everyone that has had an interest in my park. I have had some good offers but terms couldn't come together to make the sale. I will consider some owner financing with a large down payment and length of financing up to 8 years with reasonable interest rate...... Excellent income producing mobile home park, a turn-key operation which has allowed me to be self-employed and independent from employers with a nice income and has given me plenty of time to pursue other projects and adventures. Its all about location, location, location. This park is located within 1/3 mile of three schools and within 5 miles of 5 schools. It is close to shopping centers, fast food, restaurants and the city bus stop. Interstate 10 is close enough that you can be downtown or at the beaches in very short time. The park consists of 3 parcels of land, approximately 1 acre each and is licensed for 18 units. Currently 17 units are park owned with the vacant lot ready for the 18th unit. Water and gas services are provided by the city/county . It has asphalt pavement and a 16' x 16' metal workshop. Income cap rate is12%. I have a second park that i would sell along with this one should the buyer be interested , 7 units with a small house on 2 parcels of land. Income cap rate on it is 12% also, sale price on it would be much less..... AGENTS, please do not contact me with help selling these parks for a commission, thank you.

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Park Information

Community Type: All Age
Number of MH Lots: 18
Total Occupancy: 100.0 %
Average MH Lot Rent: $550
Size: 3.0 acre(s)

Financial Information

Gross Income $115,200
Operating Expense $33,217
Net Operating Income $75,071
Expense Ratio 28.8 %
Debt Info zero

Lot Information

Singlewide Lots: 18

Utility Information

Water: City
Water Paid By: Park
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 17
Average Rent for Park-owned Homes: $565

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