This is a 24 lot MOBILE HOME PARK park sitting on approx. 3.5 acres. Each tenant pays all their own utilities decreasing out of pocket expenses. All city utilities no septic! Each unit is fenced for the tenant. Good mix of lot rent and park owned. Current owners have turned over a lot of the non-payers and have majorly cleaned up the grounds of the MHP! 8 Are lots that are rented for $200 each. 6 MH have been updated and renting for an average of $550. 2 MH are currently rented for $375 and $400 that could be updated. 1 Single Family Home that rents for $600 at the entrance. 7 MH that need work and are currently vacant. Cap Rate As-Is 11.39% Cap Rate as proposed 22.53%
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