Here’s Your Chance To Own A 100% Full Mobile Home Park At A 12.0 Cap!
This Is A 12 Lot Mobile Home Park On 8.62 Acres With Room To Expand To 24 Lots. The Park Is 100% Occupied With 10 Tenants Owning Their Homes and 2 Rent To Own Homes.
All The Hard Work Has Been Done. New Septic System Installed In 2009, Existing Mobile Homes Have Been Rehabbed And Sold To Tenants and Mobile Homes Brought Into Fill The Park.
There Is Still Excellent Upside Potential As Rents Are $30 to $40 Below Market
New Owner May Also May Be Able To Add 12 Additional Mobile Home Lots.
To Top Off This Great Deal, I’m Including A Separate 1 Acre Lot For Nothing!!
This Lake Lot Is Assessed at $36,300!!
You Have Many Options With The Separate Lake Lot.
- Build Your Dream Lakefront Home and Let The Park Pay Your Mortgage
- Sell The Lake Lot And Pocket The Proceeds
- Improve The Lake Lot To Include Docks, Recreation / Picnic Areas For Your Tenants and Further Increase The Rents
Income & Expenses
$ 34,709 Lot Rent (12 Lots)
$ 1,280 Pet Fees
$ 7,042 Mobile Home Rents (2)
$ 43,031 Gross Income
$ 8,639 Expenses (2017 & 2018 Average)
$ 34,288 Total NOI (Including Rent To Own Homes)
$ 27,246 Mobile Home Park NOI
Price Includes Mobile Home Park at a 12.0 Cap, $31,276 Balance On Two Mobile Home Rent To Own Agreements. .
Following Is The Breakdown Of This Tremendous Offer By Asset.
$ 227,050 Mobile Home Park At 12.0 Cap
$ 31,276 Two Mobile Home Rent To Own Contracts
$ 36,300 1 Acre Lake Lot
$ 294,626 Total Value