1031 Exchange, looking for park to buy value from $1.5M - $4M

mobile home university
1

Hi, Park owners,

I am selling two apartment complexes and looking to buy mobile home park. Ideal park:

  1. 100+ Lot (at least 50 lots), $3M value (at least 1.5M, $4M max)
  2. City Utilities
  3. 10 Cap

I am looking for two parks like these. If you have one for sale or your friend has one for sale. Please let me know.

Thank you!

Jerry

2

peakbleu,

Be mindful of the 1031 timing traps. Missing by even a day can cost six figures or more in taxes.

I’ve mentioned how I’ve avoided these issues in other posts.

Finding a ‘good’ deal in MHP’s is a different animal than in other multi-family assets.

Keep us posted,

Mike

1 Like
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I have something you may be interested in. You can email me at seanlact@gmail.com

Thanks,

Sean

4

Hi Jerry:

I have a two side-by-side parks in NC, with a total of 131 lots, 88 of which are occupied. The other 40+ lots have all individual utilities in place (i.e. dedicated electric, county water and individual septic system). Lots are big and ready for homes to be placed on them. We have an on-site Sales/Rent Collection office with a great husband/wife property management team. Gross collections are averaging about $21,000 per month and there is a backlog of prospects who would like to rent units. At this point, we have focused only on filling up the empty lots with owner-occupied units. I do not have this property officially listed for sale, but would be willing to discuss with you.

I can be reached at either 252-347-9606 or at tony.khoury@eastgroup.com.

Best,

Tony