I am looking at buying a park and found this one for sale. This looks like the perfect starter park for me. No park owned homes.
Not sure exactly why the owners are selling. This is the last park they have, they have sold others. They have not been anxious to this point about selling, I think that it is a matter of reducing debt…ie, selling to pay off the mortgage.
The park has two wells for water. They do pay garbage collection. All units are on septic systems.
The owners have good report with the tenants but do not live on site. They are the current management and have expressed an interest in possibly continuing in that capacity if a new owner would like.
The homes are all tenant owned at this point. I will include the basic overview of expenses…hope this helps
Just let me know if there are any questions I can answer for you.
You can call me direct anytime or email me…
Appreciate your interest ,
What follows are some of the details as I understand them, if you would like more detail,
Offered for $335,000.00
Zoning is R2MH
There are 17 spaces in the park, on 6.35 acres. Zoning is grandfathered to allow current density, but additional units cannot be added.
Park does not include any mobiles, just lot rentals.
The current owners have owned this park since 2001.
The lot rents are $235.00/month
Occupancy remains stable at 100%
There are two wells that have exhibited no difficulties.
I understand that 8 units are paired to share a septic system, with two units on a single system, the rest are on individual systems.
All septic permits are on file.
A general breakdown of expenses:
(These are averages)
Garbage collection: $350.00/mo. Collected from each unit, no dumpsters.
Owner stated that garbage collection had originally been via two dumpsters on site, that proved difficult to
maintain or keep secure.
Electricity: $1500.00/yr. Sentry lights, wells.
Lawn Maintenance: $125.00/ea…Approxiamtely $3750.00/yr., depending on need
Road Maintenance, snow removal: $100.00/ea…Approximately $500.00/yr.
Many of these are averages and vary slightly, ie. lawn care, road maintenance…only when needed.
Current management could stay in place.
Owner would also consider a lease back option, terms to be negotiated.
Please call anytime if you have any other questions I may be able to answer.
Look forward to hearing from you,