Mobile Home Park Details

  • Purchase Method: Assumable Loan
  • Cap Rate: 10.0% (Pro Forma)
  • Listing ID: 13241
  • Posted On: Jun 2, 2010
  • Updated On: Oct 12, 2010

Description

Confidential Listing. You must sign a non disclosure to get specific financial information.

Mobile Home Park near Morgantown, West Virginia with over 9 acres of land. Park is made of lot only rents. Lot Rent is $115 per space. Currently 25 of 34 spaces occupied. Unsure how many of vacant lots are usable. Purchase Price of $276,000. Proforma net operating income is $27,000. City Water and Sewer. Property Manager in place. Big upside on the proforma numbers.

Assumable Mortgage by local bank, approximately $185,000. Good terms. Must qualify. Seller would consider a "small" second mortgage. No low offers will be accepted.

Would be great for an owner operator but still profitable for an out of state owner.

Interested in purchasing this mobile home park? Get pre-qualified for a loan.

Park Information

Number of MH Lots: 34
Total Occupancy: 73.0 %
Average MH Lot Rent: $115
Size: 9 acre(s)

Financial Information (Pro Forma)

Net Operating Income: $27,000