We are looking at a 29 unit mobile home park.
23 of the 29 spots are currently rented at about $135.00/mth.
None of the units onsite are owned by the Park.
Town has a population of about 2,000 and trading area of about 14,000. A number of mines in the area also.
Sewer / Water is on the town water system. Park pays for water quarterly.
Land area is about 6 acres.
What do you figure a good price would be?
There is no assumable mortgage and the owners are not looking at doing any financing they just want to cash out and move on.
They just finished repairing some water leaks which already has brought the water usage per quarter down.
Any insight would be great.