Hello MHU Community! Looking for your expertise and guidance on this deal. Please share your thoughts!
*Off Market Price-$1.2M (7.7 ac, Fully Occupied)
*30 Units (23 Units POH) (7 Lot leases)
*23 Units POH - $700 per mo=$16,100
*7 Lot Leases - $375 per mo=$2,625
*Tenant paid utilities
*Total Expenses from Tax Returns: $36,600
*All 30 park spots have their own septic tanks, and were all pumped Summer of 2018.
*The property has 3 wells while only utilizing one well for the park. The other two are well maintained and can be brought online at anytime if needed.
*Dumpster is on site for trash
Park is immaculate shape and needs no repairs currently. POH avg age of 20 years.
What are your thoughts on this deal?