30 Unit Mobile Home Park with Home !!!
Priced to move quickly at $425,000
Purchase Price: $425,000
Cost per pad: $13,710
Building Class: C
Location Class: B
• NOI $66,600 – based on actual rents
• 34.8% Cash on Cash Return
• 5 year ROI – 75%
• 15.2% Cap Rate
• Cash Flows with current rents
• Large Equity
• 60% Occupied
• Major upside and HUGE value plays!
Opportunity: HUGE EQUITY!!! Excellent opportunity for an investor to get on board with a stable property with possible value added by reducing expenses or increasing rents.
Status: Under contract by AmeriPlex Holdings, LLC. New Buyer will be assigned the contract to close.
This Property is offered for sale to qualified Buyers.
Proof of funds is required with all offers.
DRIVE BY ONLY.
DO NOT DISTURB CURRENT TENNANTS.
Type # of Units
Homes Owned 19
Lots Rented 0
Vacant Lot 12
Number of Units: 30 plus Residential Home
Style: Land and Homes
Construction: Mobile Homes
Current Occupancy: 60%
Market Cap Rate: 10%
Pro Forma Cap Rate: 15.2%
Income and Expenses
Type # of Units Actual Rent
Owned Home 12 $550
Owned Home 4 $600
New Home i 2 $650
SFHome 1 $800
Vacant Lots 12 $000
Subject Property Rent:
Actual rents are provided in the Rent Roll.
Yearly Income base on actual rent $133,200
Less Vacancy (10%) (13,320)
Less Expenses (40%) (53,280)
Net Operating Income $66,600
NOTE: Though revenues are based on actual rents. The operating expenses are increased to industry standards and includes property management
It is acknowledged by reader that information furnished in this Executive Summary is in all respects confidential in nature, other than information which is in the public domain through other means and that any disclosure or use of same by reader, may cause serious damage; therefore, reader agrees not to disclose it without the express written permission of AmeriPlex Holdings, LLC.
AmeriPlex Holdings, LLC has prepared this Executive Summary, which contains brief, selected information pertaining to the business and affairs of the property. The information contained herein does not purport to be all inclusive nor does it purport to contain all of the information representative of the property. AmeriPlex Holdings, LLC nor any of its respective partners, officers, employees or agents makes any representation or warranty, expressed or implied, as to the accuracy or completeness of the information contained herein or otherwise expressed and conveyed and no legal liability is assumed or shall be implied with respect hereto.
Such information and statements have in many circumstances been obtained from outside sources, have not been tested or verified and may be subject to errors or omissions. Projections, especially, are based on various assumptions and subjective determinations as to which no guaranty or assurance is given.
Potential investors are recommended and urged to perform their own examination and investigation and not to rely on the information contained within this document or other materials otherwise provided.
Please contact me at the phone number or email address listed below if you are an interested party, or if you require further information.
AmeriPlex Holdings, LLC