12% CAP 87 lot MHP for Sale in Fairfield, Illinois

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87 lot Mobile Home Park for Sale with Value Add Opportunity!

Name of Park: Fairfield Mobile Home Park

Asking Price: $689,000.00

Occupancy:

Total lots: 87
Tenant Owned homes:19 Tenant
Park Owned homes: 28 homes (6 vacant) Vacant pads: 40

Revenue:

Gross Annual Income: $128,400.00
Municipal Taxes: $14,000
Water and Sewer (city): $14,000
Insurance: $5,000
Management: 10% ($12,840 - onsite manager currently in place who receives discounted rent, external manager calculated into cap rate)

NOI: $82, 560.00

CAP RATE (AS-IS): 12%

For more information: wemindji.properties@gmail.com

Disclaimer- this is a co-wholesale

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There is a bunch of expenses missing in your calculation.

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Like I said, this is a co-wholesale; I’m not the principal involved. If you want more information, send me your email information, I will forward it to my associate. She’ll be able to answer your questions.