I have a small Mobile Home Park For Sale. Located in Athens, Alabama.
1.) 4 Acres with 10 Mobile Home Lots
2.) 5 Septic Tanks
3.) 1 Main County Water Meter
4.) Lots are Sub-Metered with Water Meters
5.) 2 Large Industrial Metal Sided Work Shop
6.) Storm Shelter
7.) Room for Expansion
8.) 2 - (14 x 70) Mobile Homes
9.) 1 - (16 x 80) Mobile Home
10.) 3 - (12 x ) Mobile Homes
Sales Price: $150,000.00
Contact: dking2@charter.net
When selling small or large parks, the income and expenses are going to be what people need to see. Its great to tell them about the homes and and the land but bottom line is, investors want to know net operating income and see the numbers.
Tony
Income: Monthly
Lot# 1 - $125.00 Lot Rent
Lot# 2 - Vacant
Lot# 3 - 12 wide MH ($315.00)
Lot# 4 - 12 Wide MH ($315.00)
Lot# 5 - 16 x 80 MH ($450.00)
Lot# 6 - 12 Wide MH ($325.00)
Lot# 7 - 14 x 70 MH ($385.00)
Lot# 8 - $125.00 Lot Rent
Lot# 9 - $125.00 Lot Rent
Lot# 15 - 14 x 70 MH ($385.00)
All Residents pay monthly water usage through their water meter.
All Residents maintain their own yards. (Mowing, cleaning, etc)
Expenses:
Land Tax - $150.00 (Yearly)
Main Water Meter - $160.00 Monthly (Reimbursed by Residents)
Wow! Based on annual income of $30,600 and expenses of only $150 per year, you’re expenses are only 0.5% of income! That’s incredible. I wish I could find a park like that.
Seriously though, this is totally unrealistic. Management costs, upkeep of streets and other infrastructure, legal expenses, phone, and office supplies are just a few of the costs that every park has. It’s not possible to determine the value of an income producing asset without knowing all the income and expense information.
I apologize for not including a more detailed expense list. I purchased the property a couple of months ago. I did not receive an expense list from the prior owner. As I have owned it for only a short time, I do not have a list of expenses.
I have personal issues, which have pushed me to sale the property.
Sorry for the incomplete Unrealistic information.
DK
DK,
I’m looking for a park in Alabama. Are you able to do any owner financing? If so, let’s talk.
jblanknc
Hello,
I think I have the Park sold. I have a lady saying she is planning to buy it. If not, I am interested in hearing what you have in mind. What amount down payment do you have?
Thanks,
DK
256 559-0980
Post Edited (05-12-09 18:23)
U have it sold? - that’s great! I hope that works out. I’d love to hear the numbers if the deal closes. It’s always helpful to know what parks are going for these days.
What amount of down payment do I have? Well, impossible to talk numbers without knowing a little more, but I can put down what is needed to make it happen. I’ll looking at a few deals right now, and hope to close something soon.
Be very aware that there is a person out there that has been buying mobile home parks with owner finanincg in Alabama who has failed to follow through and has then re sold illegally or just stopped paying causing foreclosure.
Do a thorough background check and I mean thorough on anyone you sell to if ou are carrying the note.
Did this ever sell? Kinda old thread