27- total sites with 26 tenant-owned homes onsite. Rents are slightly below market at $275.
Average lot rent of $275 times the 27 occupied homes and additional water and sewer income
of $1,400 per month from park next door with a 41% expense ratio (Water Treatment and Sewer Membrane Bio-Reactor)
gives you a gross income of $105,900 and a net income of $61,950. Owner of park next door is 82 years old and has
signed a right of first sale. – Upside
Current cap rate at contract price is 12.5%.
✓ 1 Park-Owned home – Owner fixing getting ready to sell
✓ Water-Treatment System
✓ Sewer Membrane Bio-Reactor System – 12 years old - We have a licensed water and sewer operator at $300/month
✓ 160,000+ MSA
✓ Paved roads
✓ Land Survey and Phase I Environmental Complete
Interested in partnering or assigning the contract. Let me know if your interested…