Hello all,
I have been working on purchasing a MHP but struggling to get the financing. I am under contract but looks like I may not get the financing. I think it is a good park and price so thought I would see if anyone is interested. Here are the details.
29 lot MHP
2 vacant lots
18 POH
9 TOH
TOH lot rent is $200 market is $300-$325
POH is $675 average and market is $700-$850 depending on Bed bath combo.
Gross rent is $13,950/ month or $167400/ yr
Vacancy is about 10% but has been decreasing as new units have been installed.
Expenses are estimated at $60,000 or 38%
the homes are, 1 is 1999, 2 are 2006, 1 is 2007, 3-2008, 1-2009, 2-2010, 3-2011, 1-2017, 4-2018
The electrical to the trailers has all been redone and the trailers are in good condition and well maintained. Some still need skirting. the roads have been re-graveled and wood fence has been installed new around the park. The POH trailers can sell for about $35,000-$50,000 in the local market.
The asking price is a bit under 1 million.
If I can’t get financing and my deal fall through is anyone interested in this deal?
This is on city water and sewer.
1 Like
Where is park? We might be.
The park is in Louisiana near Lafayette.
Thank you Ben, appreciate the fast response.
If you are interested send me your email.
hey Ben, we are serious buyers and would be interested. Can you plz share to manny@msscapital.info?
Thank you
Give me a call at 208-249-4544 or send me your phone number to call you.
thanks