MHP deal review

I always enjoy when investors post mobile home park deals so here is another i’m working on.

  1. 94 lot Mhp

  2. 88 lots rented at $300 each. No park owned homes. Only 2 vacant lots. One home is the managers, one is the owners, and 2 are in process of being setup.

  3. Commercial building rented as a restaurant in the past is vacant. $1000/month

  4. Public water and sewer. Owner pays water and sewer $4000/month.

  5. Taxes $25,000/year.

  6. Trash $800.00/month.

  7. $17,000/year other expenses (manager,repairs,misc.).

  8. Built in 1950. No room to expand. Paved streets in decent repair.

  9. MHP located just outside a large city with 1.2 million residents.

  10. Median income $37,000. Median rent $810.

Price 1.5 million with no owner financing.