I have 1 mobile home park in WV for sale:
MSA population 140k, median income $46k, median house price $200k; 3-bedroom rent $1400. Major university and employers nearby. City water/sewer (under process of being sub-metered). 33 lots, 27 occupied (all TOHs). Come with 2 separate buildings (estimated value $500k). Lot rent $310, estimated to be $100 below market. Sales price $1.3M.
PM me if interested.
doing a little math is that a 5 cap?
please send me any information available: [jonking@multifamilyinnovations.com]
5-6% CAP rate? Yikes.
Without raising lot rent and filling in vacant lots, it’d be around 9 cap if you take into consideration the market value of the buildings that come with the park and sub-metering. The SFHs within close proximity are mostly in range of $200k-400k, a few over $800k just one block away. I’m been busy lately but will send the info in a few days to those who pm’ed me and expressed serious interest. Thanks