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Mobile Home Park Investing

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Ian Tudor
  • Specialist
  • Charlotte, NC
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MHP Deal Analysis

Ian Tudor
  • Specialist
  • Charlotte, NC
Posted Oct 28 2014, 19:03

I have come across a MHP that I believe has some potential. Let me know your thoughts on value, etc.

- 55 lot family park - 38 tenant owned, 15 park-owned (vacant), 2 vacant lots

- estimated rehab per vacant MH is 7,500

- 330 average lot rent, rents haven't been raised in 3+ years

- Sub-metered city water & sewer (park owner pays for everything except electricity)

- Seller financing with 25% down (estimated 6% fixed @ 30 years)

- Purchase price is 1mm

What is the value of this park?

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