MOBILE HOME PARK - Occupied $11K/month Income

Multi-Family for Sale
Catylist Listing ID: 30338118
Property Subtypes: Mobile Home Park
Number of Units: 16 Units
Building Size (RSF): 950 SF
Gross Building Area: 15,200 SF
Sale Price: $750,000
Unit Price: $46,875 Per Unit
Property Use Type: Investment, Business
Sale Terms: Cash to Seller
Cap Rate: 15.91%
Average Occupancy Rate: 88
Last Updated: 1/21/2019

Overview / Comments

GREAT INVESTMENT FOR SALE - This is an opportunity that does not come up often to be able to purchase a successful mobile home park. This sale includes all the trailers, land, and existing leases. The mobile home park consists of 16 trailers of which currently produces $9100 per month in gross income. There is currently 3 spaces available to rent which brings the potential gross income to $11,525 per month.

There is also several trailers that have room to increase rental rates to match market rates thus increasing potential income further. These trailers are older trailers that are all in good condition and well maintained. Several of the homes have been recently remolded and all are always serviced immediately by the designated maintenance technician. This is a great investment property that is producing strong income.

Call the listing agent Jourdan Despot at Logan Babin Real Estate to learn more (985) 872-4597.

Financials

Finance Data Year 2017
Real Estate Taxes - Annual($) $3,500 (Annual)
Potential Rental Income $11,525 (Annual)
Gross Operating Income $138,300 (Annual)
Net Operating Income $119,300 (Annual)
Actual or Proforma Year Actual

Additional Details

Nearest MSA: Houma-Thibodaux
County: Terrebonne
Tax ID/APN: R01-5219
Zoning: UNRESTRICTED
Percent Occupied: 875%
Community Amenities: On-Site Maintenance
Highway Access: Hwy 24 & Hwy 90
Site Description: The property is four separate lots all in the same area. One lost has four mobile homes, one lot has eight homes, and the last two lots have two mobile homes on each.
Area Description: Great area right next to a popular public high school. Convenient access to Hwy 90 which the main highway to New Orleans or Lafayette
Total Number of Buildings: 16
Property Condition: Good
Number of Stories: 1
Year Built: 1990
Year Renovated: 2016
Roof Type: Arched
Construction/Siding: Modular
Parking Type: Surface
Parking Description: Driveway parking allocated at each home.
Heat Type: Electricity
Heat Source: Wall Units
Fuel: Gas, Electric
Air Conditioning: Window Unit
Internet Access: Cable, Satellite
Zoning Description: Unrestricted
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,596 20,011 45,088
Median Age: 33.46 32.74 34.57
Households: 576 7,053 16,928

Contact

The information presented herein is provided as is, without warranty of any kind. Neither Louisiana Commercial Database, LLC nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.